Elon Musk’s love of 4/20 has been well documented. But this year, as the day dedicated to cannabis rolls around, the Tesla (NASDAQ:TSLA) CEO likely has other things on his mind. Tesla is scheduled to report earnings for Q1 2022 today, and Wall Street is awaiting answers to some pressing questions. However, one of the most pressing questions concerning TSLA stock investors doesn’t even center on Tesla. It involves Twitter (NYSE:TWTR), the company Musk is trying to take over.
And a recent tweet from the billionaire is raising even more questions.
What’s Happening With TSLA Stock
As the earnings call looms, TSLA stock is falling. It plunged this morning after markets opened and has yet to rebound. As of this writing, it is down almost 3% for the day. The last time Tesla was poised to report earnings, shares rose. This is understandable. It’s been a complicated quarter for Tesla, and Wall Street harbors a fair bit of uncertainty regarding the company’s progress in certain areas. However, some investors feel that Musk’s focus may be elsewhere.
Last night, he tweeted the following:
_______ is the Night
— Elon Musk (@elonmusk) April 20, 2022
Why It Matters
The tweet above is in keeping with Musk’s theme of posting vague messages, clearly aimed at keeping followers guessing. It isn’t instantly clear what he intended to go in the blank space. Plenty of Twitter users see it as a reference to the phrase “tender is the night.” We don’t know if Musk has read the 1934 novel of that name by F. Scott Fitzgerald, but we do know that a few days ago, he tweeted “Love me tender.” While the tweet featured musical note emojis, it was clearly a not-so-subtle nod to his potential Plan B to submit a tender offer to acquire Twitter.
The second possibility is that Musk intends the blank space to be filled by the word “tonight.” This would likely be in reference to the Tesla earnings call. However, the majority of responses to Musk indicate that the public believes the message to be about Twitter. That list includes popular crypto platform CoinMarketCap, which tweeted the following response:
— CoinMarketCap (@CoinMarketCap) April 20, 2022
Twitter has issued no statements on Musk’s attempted takeover since his original tweet.
There is one thing we know for sure. As Tesla gears up to report earnings this afternoon, it will likely have a record number of eyes watching. Any updates on the Twitter takeover will pose significant consequences for TSLA stock. Much will depend on what Musk says.
What It Means
“I suspect investors will be paying close attention to Tesla’s production numbers, as well as any nuggets of information CEO Elon Musk shares regarding his plans to acquire social media giant Twitter,” states InvestorPlace’s Louis Navellier.
That sentence sums up the current Tesla/Twitter landscape well. Musk understand that investors want to know about his quest for Twitter. Anyone who follows him knows that even vague updates can push TSLA stock up. And while he may have less-than-positive news to report regarding earnings, TSLA stock will benefit from the focus a Twitter update would provide.
Much remains uncertain, but Musk has done a great job keeping investors and followers on their toes as he prepares to deliver the update the world is waiting for.
On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.