Elon Musk deleted a tweet in which he hinted that Tesla would potentially become the biggest company in the world “in a matter of months.”
The SEC may be watching …
Musk’s use of Twitter has been under intense scrutiny by financial authorities for some time.
More famously, the United States Securities and Exchange Commission (SEC) filed a lawsuit against Musk for his infamous “secured funding” tweet regarding his unsuccessful attempt to privatize Tesla in 2018.
The SEC ruled that Musk had exaggerated when he said the funding was “guaranteed.” Tesla and Musk have reached an agreement with the SEC.
As part of the settlement, Musk agreed to step down as chairman of the board, and Tesla and Musk each had to pay a $ 20 million fine.
The CEO presumably didn’t want Tesla to have to pay for his problem with the SEC, and although he couldn’t pay Tesla’s portion of the fine directly, he decided to buy $ 20 million in shares. to Tesla.
That way, he ended up paying Tesla’s fine indirectly – although he also ended up with around 71,000 additional Tesla shares in the process.
As we previously reported, Musk ended up making money from the settlement due to Tesla’s stock price soaring last year.
The SEC also asked Tesla to oversee Musk’s use of Twitter so as not to share important information that could influence the market.
Now the situation is happening again as Musk tweeted something that might fall into that category.
In our Slack press room on Electrek, we’ve set up an automated flow of Musk’s tweets. Every now and then, in between all the memes he tweets, there are some newsworthy articles.
Today we woke up to a series of tweets, and the last one was deleted:
Regarding the impact of Tesla’s exit from full autonomous driving on the automaker’s assessment, Musk said there is more than a 0% chance that Tesla will become the biggest company in the world.
This is something he has said before that is not important to Tesla’s valuation.
However, someone with the Twitter handle @ ToonLa24 replied that he “liked the direction of that arrow” in reference to the “more than” sign used by Musk, and the CEO surprisingly responded with “probably in a few months.”
Many people interpreted the tweet as Musk saying Tesla could become the biggest company in the world in a matter of months, but it’s not clear.
The CEO quickly deleted the tweet under which many people said it could be important information and against the SEC order.
Personally, I don’t see a problem here.
Musk believes that Tesla could become the biggest company in the world if it solves autonomous driving is not material, it’s obvious.
I would even venture to say that most people agree that if Tesla suddenly gets its vision-based autonomous driving system using its current hardware, which is already in hundreds of thousands of regulator-approved cars, it would unlock. probably hundreds of billions of dollars. .
Rather, the question is whether or not Tesla can achieve this feat and when.
Musk has already said it will happen this year, and therefore, it wouldn’t be surprising if Tesla becomes the world’s biggest company this year.
But he’s been wrong on that timeline before, and a lot of people doubt that will happen.
Anyway, I don’t see the SEC going after this one as it doesn’t seem to have an impact on Tesla’s stock anyway.
FTC: We use automatic income generating affiliate links. Suite.
Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast.