Share price too high: Elon Musk tweets Tesla share in the basement – Is there more trouble with the SEC? | message

—Musk wrote on Friday that he believes the Tesla share price is too high. In addition, the billionaire tweeted: “I sell almost all physical property” – and that he will no longer own a house. As a result, Tesla’s share continued to fall and fell temporarily in NASDAQ exchange trading by around twelve percent. At the end of Friday trading, the share price was still 10.3 percent lower at $ 701.32 per share.

When asked by the Wall Street Journal whether the tweets were a joke and whether the company approved them before publication, Musk replied by email with a “no,” the newspaper reported.

That could bring the Tesla boss into the focus of the US exchange regulator SEC again. An agreement with the authorities stipulates that Musk must have the company approve his tweets. The trigger for this was Musk’s announcement on Twitter in summer 2018 that he was considering taking Tesla off the wall and that the financing was secured. The SEC, after an investigation, concluded that Musk had no firm funding commitments and enforced the Twitter restrictions.

Musk is also known to cause a stir and confusion with bizarre Twitter appearances. After the SEC agreement, he wrote that he was “the new nothing” from Tesla and thus triggered speculation that he had given up the executive position. On April 1 last year, he tweeted a photo jokingly about a Tesla bankruptcy. An important question now could be whether the indication that it was Musk’s opinion relieved him of the release obligation.

The campaign comes of all times while Tesla came into the fairway economically after high losses. It was only on Wednesday that the company celebrated its third quarter in a row its longest stretch of profitability since it was founded in 2003. Despite the sharp losses on Friday, the share price has risen by more than 80 percent since the beginning of the year – despite the corona pandemic affecting the automotive industry charged.

/ bek / he

NEW YORK (dpa-AFX)