STEEP COST FOR A TWEET

Elon Musk to Step Aside as Tesla Chairman in SEC Deal (WSJ) https://www.wsj.com/articles/elon-musk-can-remain-tesla-ceo-but-must-step-down-as-chairman-in-sec-settlement-1538257394

The SEC reached an agreement to settle accusations against Tesla founder Elon Musk, who made tweets aboit taking Tesla private that impacted shareholder value. In the settlement, Musk must step down as chairman for at least 3 years, but will remain CEO. Musk and Tesla will pay a combined fine of $40 million.

Executives are required to provide factual information to shareholders, even if disseminating information via Twitter. But, did Musk cause $40 million in damage? Maybe  but that is one expensive tweet.

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