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.