04 OCT

Elon Musk isn’t on his Twitter leash yet, so he’s taunting the SEC

On Saturday, Elon Musk settled a lawsuit from the Securities and Exchange Commission claiming that he had violated federal securities laws by tweeting that he had “funding secured” to take Tesla private. Now, days later, Musk has tweeted out a sarcastic message to the SEC:


Just want to that the Shortseller Enrichment Commission is doing incredible work. And the name change is so on point!
— Elon Musk (@elonmusk) October 4, 2018

Musk has long waged a rhetorical war against shortsellers—investors who borrow shares of Tesla in order to profit if the price drops. Here he’s suggesting that the agency—whose mission is to protect investors from CEO misconduct—is actually harming the value of Tesla’s stock by enforcing securities laws against Musk and Tesla.

In June, Musk wrote that shorts “have about three weeks before their short position explodes”—presumably a prediction that Tesla’s strong quarterly results would cause Tesla’s stock to rise.

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Post Author: martin

Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.