Samsung shares take Rs 3,870 crore hit after Elon Musk’s tweet

Recent rumors suggested that Samsung was going to provide the battery pack for the Tesla Model 3. However, they were all put to an end after a tweet from Elon Musk effectively making things very clear. The significance of this tweet, however, is in its aftermath " Samsung’s shares went down by Rs 3,870 crore, while Panasonic’s shot up by 3 per cent or Rs 5,338 crore.