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Elon Musk tweet wipes $14bn off Tesla's value:
The tweet also knocked $3bn off Mr Musk's own stake in Tesla as investors promptly bailed out of the company.
"Tesla stock price is too high imo," he said, one of several tweets that included a vow to sell his possessions.
In other tweets, he said his girlfriend was mad at him, while another simply read: "Rage, rage against the dying of the light of consciousness."
In 2018, a tweet about Tesla's future on the New York stock market led to regulators fining him $20m and agreeing to have all further posts on the platform pre-screened by lawyers.
Previously:
(2019-04-27) Elon Musk Reaches Settlement in SEC Tweet Battle
(2018-10-06) Elon Musk Isn't on His Twitter Leash Yet, So He's Taunting the SEC
(2018-09-30) SEC Settlement: Elon Musk Resigns as Chairman of Tesla, Stays as CEO, $40 Million in Fines Paid
(2018-09-28) Elon Musk Accused by SEC of Misleading Investors in August Tweet [Updated]
(Score: 0) by Anonymous Coward on Saturday May 02 2020, @03:17AM (4 children)
How stupid tho really?
He has a squillion dollars whatever he does. If you had a squillion dollars would you give a crap what The Little Investors do or think? The highest form of entertainment to a squillionaire is sending them into a tizzy when you sneeze or "accidentally" tweet some shit. So share price goes down - ooooh - sooooo seriiiooooussss. I better bahave before the Big Man comes and fines me $1.50.
(Score: 4, Insightful) by All Your Lawn Are Belong To Us on Saturday May 02 2020, @03:45AM (3 children)
Big Man could also come along and remove him from his company or jail him [cnbc.com]. If Trump still thinks Musk, "does good at the rockets" [cnn.com] then not much chance of that happening, I suppose. But if Trump forgets to put sugar in his coffee that morning maybe Musk will be raked over the coals. Such fun at guessing which answer will come out of this administration! But, anyway, the SEC does have considerable power that it almost never uses against corporate officers.
This sig for rent.
(Score: 0) by Anonymous Coward on Saturday May 02 2020, @04:12AM
Ooooh nooooes am I one of teh bad boyz now? pluueeez let me be a good boy pluuuueeeeeeez
(Score: 3, Interesting) by JoeMerchant on Saturday May 02 2020, @12:54PM (1 child)
As my (small) company was tanking, I was quite relieved when they relieved me of the VP title. Nothing but liability in being an officer, plus: they had been doing just about the opposite of what I said should be done for over a year so I really didn't deserve liability to the shareholders for the direction that was taken.
🌻🌻 [google.com]
(Score: 2) by All Your Lawn Are Belong To Us on Monday May 04 2020, @08:56PM
Good point. This could be an interested way to bail out of corporate management, the problem being that usually when the SEC strikes such deals to avoid prosecution they want the individual off any all all boards they are currently on with a promise to not be involved with any corporate governance for some agreed upon period of time.
This sig for rent.