Stock Slide After Musk’s Twitter Hail‑Mary
Shares of electric‑car pioneer Tesla slipped 4.4 % to $281.83 earlier today, a clear sign that investors were rattled by a cheeky tweet from CEO Elon Musk. While the CEO just finished settling a big fraud fight with the U.S. Securities and Exchange Commission, he chose to thank the SEC with a tongue‑in‑cheek praise for a division named the “Shortseller Enrichment Commission.”
What’s the Scoop?
- Musk’s tweet read, “Just want to that the Shortseller Enrichment Commission is doing incredible work,” and added a shout‑out about the name change being “so on point.”
- Even so, the SEC settlement still looms: Musk will pay a $20 million fine and sits out as Tesla’s chairman for the next three years.
- A federal judge is still weighing the full terms of the lawsuit, making the situation a bit of a black‑mail “he said, she said” mystery.
Why Investors Are Worrying
After the settlement, Tesla’s future governance shapes a “no‑conflict” zone for the next few years. Executive changes can be scary, especially for a company that moves so fast that the market feels like a roller coaster. And Musk’s tweet, while light‑hearted, perhaps sends a signal that he’s still chewing over the SEC’s criticism.
Bottom Line
While the stock’s dip signals panic, it’s unlikely to be a long‑term sign of trouble. Investors may wait for the judge’s final decision and keep an eye on how Tesla’s leadership shapes the next decade.
