chirp chief executive officer For a company Tesla, (Elon Musk) Elon Musk, saying: I think there is a more than 0 percent chance that Tesla will be the biggest company, adding: Maybe in a few months, in responses to followers.
Musk’s second tweet providing guidance on the timing of the expected increase in Tesla’s market value was deleted, but the screenshots were widely shared on Twitter.
The US Securities and Exchange Commission clashed with Musk and Tesla over the CEO’s previously unrestricted use of Twitter.
In the third quarter of 2018, Musk faced charges of fraud from the Securities and Exchange Commission after he tweeted to tens of millions of followers at the time that he was planning to turn Tesla into a private company at $ 420 a share, and that he had secured funding to do so, and Tesla’s share price soared. By more than 6 percent that day.
Musk and Tesla entered into a settlement agreement, in which the CEO and the company each individually paid a $ 20 million fine, agreeing that they could not claim the innocence, among other conditions.
However, the Securities and Exchange Commission asked the court to charge him with violating this agreement after he tweeted about Tesla’s production numbers in early 2019, and the agency said: This is a violation of the terms.
As a condition of the revised Settlement Agreement, Tesla is obligated to agree to all written communications, including tweets and other social media posts containing material information about the company.
Most recently, a Tesla shareholder named (Chase Gharrity) filed a lawsuit over Musk’s continued use of Twitter.
Garty said Musk cost shareholders billions of dollars in losses when he tweeted in May 2020 that Tesla’s share price was too high in his opinion.
Tesla’s shares tumbled 10 percent after that, which represented a more than $ 13 billion decline in the company’s market value.
Musk also commented on the price of cryptocurrencies, including Bitcoin, via tweets from his account, which currently has 49.7 million followers.
The National Labor Relations Board decided and ordered Tesla to direct Musk to remove previous tweets that the federal agency deemed threatening employees, and Musk has time to comply, but the offending material has not yet been removed from Twitter.
– Andrew ● (@ A_Contos1) March 26, 2021