The SEC is looking into Musk’s ‘going private’ tweet, report claims

Well, this didn’t take long. 

According to a report by the Wall Street Journal, the U.S. Securities and Exchange Commission (SEC) is looking into Tesla CEO Elon Musk’s recent tweets, in which he announced that Tesla is looking to go private. 

The report, which cites people familiar with the matter, claims that the SEC is particularly interested in whether Musk’s tweet was based on facts at the time of publishing. 

On Tuesday, Musk tweeted that he’s “considering” taking the company private at the stock price of $420, roughly 20% above its trading price at the time and valuing the company at over $70 billion. He also tweeted that funding is “secured” and that investor support is “confirmed.” The tweet sent the company’s stock price soaring 11% before trading was briefly halted. Read more…

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