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posted by Fnord666 on Saturday May 02 2020, @02:20AM   Printer-friendly
from the you've-got-another-fine-comin' dept.

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]


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  • (Score: 1) by purdy on Saturday May 02 2020, @12:01PM

    by purdy (1863) on Saturday May 02 2020, @12:01PM (#989425)

    Can't edit, but I missed that the previous contempt charges were settled. But yesterday's tweet is still a violation of that settlement, which requires preclearance from DSC for any public, written communication containing information about:

    Tesla’s financial condition, statements, or results, including earnings or guidance

    potential or proposed mergers, acquisitions, dispositions, tender offers, or joint ventures

    production, sales, or delivery numbers (actual or estimated) that haven’t been shared, or ones that differ from Tesla’s official guidance

    new or proposed lines of business unrelated to Tesla’s existing businesses (defined in the filing as “vehicles, transportation, and sustainable energy products)

    changes in the status of Tesla’s securities, credit facilities, or financing / lending arrangements

    nonpublic legal or regulatory findings or decisions

    anything that would require the filing of an 8-K form with the SEC, including changes in control of the company, or to its executive officers and directors

    any other topic that Tesla — or a majority of its independent members of the company’s board of directors — believe needs pre-approval