Musk Tweets Unstoppable by Tesla, Say Regulators

After Mr. Musk made assertions about taking Tesla private in 2018, the US Securities and Exchange Commission (SEC) accused him of deceiving investors. Tesla lawyers agreed to pre-approve specific tweets under the terms of a deal. However, according to documents obtained by the Wall Street Journal, the agency believes Mr. Musk and Tesla violated the conditions of the agreement.

According to the publication, the Securities and Exchange Commission (SEC) wrote to Tesla stating that Elon Musk’s Twitter account had twice violated the agreement. stock price was alleged “too high” in one tweet, while the company’s solar roof manufacturing was alleged “too low” in the other.

According to one of the requirements of the deal, Tesla lawyers must pre-approve tweets about production figures, new products, and the company’s finances. Did anyone think it would work when Elon Musk was penalized by the SEC in 2018 and had to submit sensitive tweets to Tesla lawyers in the future?The person who tweeted: “Am considering taking private at $420. Funding secured”- without the security of that funding – seemed unlikely to sway his mind as it has turned out. In fact, the tycoon has become even more incontinent and prolific in his tweeting. Be it ranting about Californian authorities trying to shut down his factory at the start of the pandemic, driving Gamestop stock higher amid the speculative frenzy surrounding the company, or helping turn Dogecoin from a joke to a crypto-currency success story.

He has been more cautious in his tweets about his businesses, albeit some of his predictions about Tesla self-driving capabilities or the advancement of his brain interface project Neuralink may have raised some eyebrows.