SEC settlement buoys Tesla share prices

Tesla Model 3
Tesla has been hustling to deliver Model 3 cars at the end of its financial third quarter. (Tesla Photo)

Tesla’s share price jumped today as dramatically as it fell on Sept. 28, thanks largely to this weekend’s settlement of the Securities and Exchange Commission’s complaints against the company and its CEO, Elon Musk.

After falling 14 percent on Sept. 28, the stock rose 17 percent today, leaving the closely watched price at $310.70 at the close. That’s above the level it held during Sept. 27’s trading hours, just before the SEC announced that it was charging Musk with securities fraud.

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By Alan Boyle

Mastermind of Cosmic Log, contributor to GeekWire and Universe Today, author of "The Case for Pluto: How a Little Planet Made a Big Difference," past president of the Council for the Advancement of Science Writing.

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