Investigation and visualization of influence of Elon Musk's controversial Tweets on TSLA Stock.
Investopedia's article "6 Big Risks of Investing in Tesla Stock") claims that Elon Musk is a "lightning rod for scandal" (Ross), suggesting that Musk's persona and behavior contributes to Tesla's risk. To test this hypothesis, I analyzed the impact of Elon Musk's most controversial Tweets on TSLA stock price and trading volume. I analzyed his controversial Tweets related to Tesla, trans rights, and his political views. I found that there was a correlation between extreme high and low values with his controversial Tweets about Tesla. Though sources suggest that Musk's other problematic Tweets have affected stock price, a correlation was not observed.
The scope of this project was limited, as it focused on Musk's Twitter activity before he purchased Twitter. Future directions include researching the more recent effect of Elon Musk’s Tweets on Twitter and Tesla’s stock, specifically after Musk announced he would become CEO of Twitter and take the company private.
Kaya Lee @klee2024