First, he tweeted that there is “a >0% chance Tesla could be the biggest company.” After a reader expressed approval for that tweet, Musk followed up with: “Probably within a few months.” He quickly deleted that second post, however.
And in other recent Musk-Twitter news, a tweet he issued almost two years ago threatening employees with a loss of stock options if they formed a union was illegal and has to be deleted, the National Labor Relations Board said on Thursday.
A disinterested observer might wonder why the media and investing public are so obsessed with every phrase uttered by the chief executive of an electric car company.
But Tesla is among the 10 biggest U.S.-listed stocks by market capitalization. So there is a reason why everyone’s atwitter, though not everyone thinks it’s fairly valued, either.
Tesla’s stock recently traded at $604.86, down 5.55%. It seems unlikely that Musk’s tweets had anything to do with that move, but one never knows.
After a brouhaha in 2018 over Musk’s tweets that he might take the company private, Tesla reached a settlement with the Securities and Exchange Commission. That settlement requires the company to deploy a securities lawyer to review executives’ social media missives -- particularly Musk’s -- to make sure they’re legal in terms of disclosure policies and procedures.
A lawyer is supposed to pre-approve any social media posting from Musk that includes information material to the company or shareholders.