Investors Complain to Elon Musk and Tesla for a Nuclear attack on Speculators. Several investors have sued CEO Elon Musk and his company Tesla.
The reason is a tweet from last week in which Musk says he is thinking of taking Tesla off the stock market at a price of 420 dollars per share.
The report led to a considerable disturbance on the stock exchange in New York, where the price of the share Tesla shot up.
The plaintiffs call the musk tweets false and misleading, and a ‘nuclear attack’ aimed to eliminate short sellers (people who speculate on price falls).
They also say that Musk’s comments have artificially raised the price of the Tesla share and that he has thereby violated the federal stock market laws.
Two-thirds of the price gain has already vanished after the stock market watchdog SEC declared an investigation.
The market value of the maker of electric cars currently exceeds 60 billion dollars.
The share Tesla closed Friday more than 3 dollars higher at 355.49 dollars.