From The Verge:
Today, Musk tweeted he’d sell “almost all” his physical possessions. Well, all right. Then, he tweeted that Tesla’s share price was too high, sending its shares down. Then he tweeted part of “The Star Spangled Banner,” America’s difficult-to-sing national anthem. He encouraged us all to “rage, rage against the dying of the light of consciousness,” which somewhat mangles the meter of Dylan Thomas’ best-known poem. He announced his girlfriend, the musician Grimes, was mad at him.
The article quotes our friend Greg Shill:
Greg Shill, a law professor at the University of Iowa, told me bluntly that he doesn’t know if this counts as securities fraud or not. “It’s uncommon but not necessarily illegal for a public company CEO to essentially call on the market to mark down the value of his company’s stock,” Shill says. ...
Shill also views it as a challenge to the agency. “It would be prudent for the SEC to request confirmation that the settlement agreement was complied with,” Shill told me. “Right now he’s arguably delivering to Tesla shareholders what they want: a really unrestrained, unfiltered CEO. When you buy Tesla, that’s arguably what you’re buying — but that’s not what the SEC settlement says.”
And I thought I had Twitter problems. Do go read the whole thing.
