Tesla Falls Midday as Musk Tweets Production Forecasts
Tesla (NASDAQ:TSLA) CEO Elon Musk just can’t keep off social media and with the Securities and Exchange Commission keeping close watch, investors are weary.
Tesla stock fell 2.8% in midday trading Monday after Musk tweeted a production forecast, which was similar to the one that the SEC sued him over a few months ago. The agency said previously that the comments from two months ago were a violation of a settlement he made with the SEC.
Musk wrote via Twitter that Tesla will make more than 500,000 cars in the next 12 months.
The tweet comes as Musk is negotiations with the SEC over attempts to put in controls over his tweeting. A U.S. judge has given the two until April 18 to resolve their differences or she will rule whether or not Musk is in contempt of court.