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Elon Musk tweets about Tesla as ‘the biggest company’

Tesla CEO Elon Musk tweeted early Friday morning that “I think there is a> 0% chance that Tesla is the largest company,” adding, “probably in a few months” in responses to questions. followers.

Musk’s second tweet offering guidance on when for an anticipated increase in Tesla’s market capitalization has since been deleted, but the screenshots were widely shared on Twitter.

The US Securities and Exchange Commission has clashed with Musk and Tesla over the CEO’s unlimited use of Twitter.

In the third quarter of 2018, Musk faced securities fraud charges from the SEC after he tweeted to his tens of millions of followers that he planned to take Tesla privately at $ 420 a share, and had obtained funding to do so. Tesla’s stock price rose more than 6 percent that day.

Musk and Tesla reached a settlement, in which the CEO and the company each paid a $ 20 million fine and agreed that they could not claim his innocence, among other terms.

However, the SEC sued him for violating that agreement after he tweeted about Tesla’s production figures in early 2019, which they said was a violation of the terms.

As a term of its revised resolution agreement, Tesla is required to approve all written communications, including tweets and other social media posts, Musk intends to share containing material information about the company. The company has never publicly said who has the known role, in parlance, as Elon Musk’s “twitter caretaker.”

More recently, a Tesla shareholder named Chase Gharrity filed a lawsuit in Delaware Chancery Court over Musk’s continued use of Twitter, saying it has cost shareholders billions of dollars in losses, for example, when tweeted in May 2020 that Tesla’s stock price was too high. in your opinion. Tesla shares fell 10 percent after that, representing a decline of more than $ 13 billion in Tesla’s market value.

Musk has also commented on the price of cryptocurrencies, including Bitcoin, through tweets from his account, which currently has 49.7 million followers.

Yesterday, the National Labor Relations Board decided and directed Tesla to order Musk to remove previous tweets that the federal agency deemed threatening to employees. The company and Musk have time to comply with the order, but the offending material has yet to be removed from Twitter.

The SEC and Tesla did not immediately respond to requests for comment.

Correction: Musk only deleted the second tweet, which offered guidance on the weather.


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