Tesla News: Elon Musk Embarrasses SEC Testing Boundaries of Settlement
The Elon Musk Tweet cycle comes full-circle. Now we are back at the trolling Securities and Exchange Commission phase, first seen in September 2018.
That was when Musk joked about taking Tesla private at $420 a share, mainly to escape the annoyance of short sellers. His “funding secured” Tweet earned Musk a $20 million fine, and three years without being able to chair the board of Tesla. Both terms of a settlement with the SEC
Well, now it’s been nearly three years, and Tesla’s share price just exceeded $1200, an insane growth from $420.
Another part of Musk’s agreement, was that he had to get his Tweets approved if they related to the company’s finances. He has since flaunted his defiance of that rule, and confirmed he didn’t intend to follow it.
This week, as we await Tesla’s financial results from Q2, Musk has mocked the SEC and short sellers again. He tweeted asking “who wears short shorts?
https://twitter.com/elonmusk/status/1278764736876773383?s=20
He tweeted asking “who wears short shorts?” Alluding to the goofy fashion choices of those who would bet against Tesla’s success.
The CEO joked that they would make “fabulous short shorts, in radiant satin with gold trim,” and gift them to the SEC. Afterwards, fans mocked up some red shorts with Elon’s earlier joke, “S*** Elon’s C***.”
https://twitter.com/elonmusk/status/1278762916326649863?s=20
Musk didn’t just say he would gift them to the SEC, he said “Shortseller Enrichment Commission,” a name he has called them in the past. Many of those shorts, and plenty or normie adults, would call this childish and irresponsible.
Ross Gerber, @GerberKawasaki, even went so far as to call it “dangerous.” Musk responded saying “but sooo satisfying.” Which, let’s be honest, is probably true.
