Tweets get Tesla’s Elon Musk in trouble again

Tesla CEO Elon Musk’s Twitter habit has sparked gyrations in the stock market. (Tesla via YouTube)

Tesla CEO Elon Musk is in trouble again with the Securities and Exchange Commission, this time over a 13-word tweet.

The SEC filed a motion in federal court on Feb. 25, claiming that a tweet that Musk sent out last week violated the terms of an agreement aimed at settling a securities fraud case brought last September. After the motion came to light, Tesla’s shares lost as much as 5 percent of their $298.77 market-close value in after-hours trading. The price crept back to somewhere around its previous level overnight, however, as traders digested the news.

It’s the latest in a series of ups and downs caused by Musk’s Twitter habit.

Get the full story on GeekWire.

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.

Leave a Reply

%d bloggers like this: