Tesla loses nearly half of its market value from its peak in mid-April after a report of Elon Musk’s sexual allegations with SpaceX flight attendant surface

This week is probably the worst week for Tesla since its inception nearly two decades ago. Tesla lost more than $350 million in market value from its record high in mid-April. But the bad news didn’t stop there.

Tesla stock was hammered today after the allegations that Elon Musk exposed himself to a SpaceX flight attendant, according to an exclusive report from Business Insider. Musk denied the allegations saying there is “a lot more to this story.”

According to the report, Musk exposed his private part to the SpaceX flight attendant and offered to buy her a horse, Business Insider said, citing multiple documents and claims in a declaration. She also claimed that Musk’s SpaceX, paid her $250,000 in 2018 as part of a severance agreement after she reported the incident to the company.

After Musk was contacted about the story, Insider said Musk emailed back to ask for more time to respond and said there is “a lot more to this story.”

“If I were inclined to engage in sexual harassment, this is unlikely to be the first time in my entire 30-year career that it comes to light,” he wrote, calling the story a “politically motivated hit piece.”

Insider also said that “it extended the deadline and reiterated the offer to Musk to comment on the claims.” But Musk did not respond.

Meanwhile, shares continue in free fall this week and are down for three straight sessions. The stocks fell more than 6% on Friday and closed at their lowest since late July of 2021. Tesla’s losses reached 14% this week alone.

Musk is also not going down without a fight. In a series of tweets on Twitter, Musk hit back and said the attacks are despicable. On Thursday night, Musk tweeted:

“The attacks against me should be viewed through a political lens – this is their standard (despicable) playbook – but nothing will deter me from fighting for a good future and your right to free speech.”

He then finally tweeted a denial in response to Cucumber Capital CEO Tara Bull: ‘And, for the record, those wild accusations are utterly untrue.’

The attacks against me should be viewed through a political lens – this is their standard (despicable) playbook – but nothing will deter me from fighting for a good future and your right to free speech

— Elon Musk (@elonmusk) May 20, 2022

Musk didn’t stop there. He also tweeted a denial in response to Cucumber Capital CEO Tara Bull: ‘And, for the record, those wild accusations are utterly untrue.’

And, for the record, those wild accusations are utterly untrue

— Elon Musk (@elonmusk) May 20, 2022

Meanwhile, many on Twitter are saying the allegation is suspicious because it came just a day after Musk tweeted he would be voting for the Republican party. On Wednesday, Musk wrote on Twitter:

“In the past I voted Democrat, because they were (mostly) the kindness party. But they have become the party of division & hate, so I can no longer support them and will vote Republican. Now, watch their dirty tricks campaign against me unfold…” adding a movie popcorn emoji for emphasis.

https://twitter.com/elonmusk/status/1526997132858822658

Below is a CNBC video coverage of the allegation.