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published in Blogs

Sep 28, 2018

The SEC Sues Tesla CEO Elon Musk For Alleged "False and Misleading" Tweet

The Securities and Exchange Commission is suing Tesla CEO Elon Musk for allegedly misleading markets through his August tweet on taking Tesla private. The SEC is asking a federal judge to prevent Musk from serving as an officer or a director of a public company, among other penalties.

According to the SEC, Musk had not even discussed any important deal term (such as price) with any private funding source – an allegation that denounces Musk’s August 7 tweet of “funding secured” at a per-share price of “$420”. Elon Musk however made a U-turn within only a few weeks of posting the tweet: he said that he would like Tesla to remain a public company after considering shareholders’ opinions. Musk also mentioned that his previous tweet on securing funding was based on talks with Saudi Arabia's sovereign wealth fund, which he claimed had nudged him into taking the company private and offered additional investment in Tesla.

Nevertheless, the SEC is in no mood to pardon Musk’s tweet, and alleges that the “$420” per share figure was only inspired by “the number's significance in marijuana culture" and that he thought his girlfriend (musician Grimes) would find it funny. Elon Musk had not consulted with any board member or employee before posting the August 7 tweet, according to the SEC.

Elon Musk said "This unjustified action by the SEC leaves me deeply saddened and disappointed". He added, "I have always taken action in the best interests of truth, transparency and investors. Integrity is the most important value in my life and the facts will show I never compromised this in any way."

But Tesla’s board members seem to be supportive of Elon. They said they are "are fully confident in Elon, his integrity, and his leadership of the company." "Our focus remains on the continued ramp of Model 3 production and delivering for our customers, shareholders and employees," their statement said.

Tesla's stock soared nearly 9% following his August 7 tweet, but has largely declined thereafter. Tesla's stock dropped more than 11% in after-hours trading Thursday.

Related Tickers: F

John Jacques

published in Blogs

May 16, 2022

A.I. Stock Market Predictions: Head & Shoulders

Statistics for the Head-and-Shoulders Bottom Pattern The days where only hedge funds used algorithms to trade stocks are officially over. Now retail investors can use Artificial Intelligence (A.I. Here’s an example of the algorithm in action: Late last year, Tickeron’s A.I.

Edward Flores

published in Blogs

Apr 29, 2022

How to Become the Millionaire Next Door

The Golden Gate Bridge is always a fixture of these walks too, one of man's most beautiful creations. As we were walking, at one point she turned to me and said, "Man, I'll never have a million dollars."" My girlfriend is 27 years old and works as a graphic designer, making about $75,000 a year.

Sergey Savastiouk

published in Blogs

May 16, 2022

When Is the Next Recession Coming?

However, we also know that economists predicted 22 recessions out of 11 that took place since 1945. Are there real recession signs we should watch for?Indeed, the answer is yes, and here are a few very important ones: The first one is almost obvious and known to everyone – it is the Fed.

Sergey Savastiouk

published in Blogs

Mar 14, 2023

How to Start Trading Penny Stocks

Penny stocks have long been marginalized within the professional investment community, oftentimes being painted with a broad brush of simply being “too risky.” Leonardo DiCaprio’s depiction of the penny stock peddling conman, Jordan Belfort, in the Wolf of Wall Street certainly didn’t help.Here are four reasons to start trading them now. Reason #1: Let’s State the Obvious -- Penny Stocks are Cheap A single share of Apple Inc. costs over $350.

Dmitry Perepelkin

published in Blogs

Mar 14, 2023

5 Habits that Lead to Successful Investing

To consistently make money in this industry, you need emotional fortitude, an analytical mind, and a willingness to self-reflect. Despite trading and investing being two different activities, these principles can be applied to both.Conversely, investors with good habits often become great traders. Rather than full sentences for titles, we’ve labeled each of our top-five investing habits using a single word principle.

Allana

published in Blogs

Mar 23, 2023

What’s the Difference Between Data Analytics and Machine Learning?

Artificial intelligence (AI) technology is developing rapidly.Data mining can deliver raw numbers, but it does not necessarily provide actionable insights. Structure is necessary to taking abstract information and extracting commonalities, like averages, ratios, and percentages.

Sergey Savastiouk

published in Blogs

Mar 13, 2023

4 Tips for Fast, Effective Stock Analysis

With just a few clicks, an investor can search for individual stocks, categories of stocks, sectors, or investment themes, and then he or she can conduct a full range of technical and fundamental analysis within seconds.All powered by Artificial Intelligence. Below, we give you 5 tips for fast, effective stock analysis using Tickeron’s Screener.

Sergey Savastiouk

published in Blogs

Mar 20, 2023

5 Golden Principles in Investing

You have enough faith in that stock, based on research, that the return will equal or exceed the investment. Do unto others.The principles outlined here will ensure that happens. Principle #1: Diversification Investors can’t be one-dimensional when constructing a portfolio.

Sergey Savastiouk

published in Blogs

Mar 15, 2023

The five most important Lessons Learned After 10,000 hours of Trading

Edward Flores

published in Blogs

Mar 12, 2023

What's the Difference Between Tokens and Altcoins?

Between their inherently technical nature, multiple varieties and sub-varieties, and endless terminology, cryptocurrency (defined here as digital or virtual currencies that are encrypted using cryptography, powered by the immutable digital ledger known as the blockchain) represents a whole, complex world.All altcoins possess their own blockchain, independent from their source code, that records all transactions of their native coins. Many altcoins are variants, or forks, of Bitcoin that leverage that cryptocurrency’s open-source protocol as the basis.