Today's Evil Beet Gossip

SEC Charges Tesla, Elon Musk, with fraud

This doesn’t bode well for my Tesla stock.  Syke. I don’t own Tesla stock. That shits expensive.

The SEC has named Elon Musk in a lawsuit, according to Bloomberg.

The suit accuses him of making false or misleading statements about taking Tesla, his electric car company, private for $420 a share, a claim he tweeted to his 22 million followers on August 7th. Shares fell as much as 10% in after hours trading on the news.

The SEC suit claims that Musk’s tweet about taking Tesla private was “false and misleading” and goes on to say that Musk continued to make false and misleading statements on Twitter followers for hours — one of them being:

“Investor support is confirmed. Only reason why this is not certain is this is contingent on a shareholder vote.”