Well, this didn't take long.
According to a report by the Wall Street Journal, the U.S. Securities and Exchange Commission, the SEC, is looking into Tesla CEO Elon Musk's recent tweets, in which he announced that Tesla is looking to go private.
SEE ALSO:Elon Musk is serious about taking Tesla privateThe 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.
An SEC spokesperson declined to comment.
Tweet may have been deleted
On Tuesday, Musk tweeted that he's "considering" taking the company private at the stock price of $420, roughly 20 percent 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 percent before trading was briefly halted.
Making an announcement like this in a tweet is unorthodox but not necessarily illegal -- unless it wasn't based on facts and its purpose was purely to manipulate the stock price.
A few directors of Tesla's board said Wednesday that Musk met them several times last week to discuss the idea, so Musk's tweet definitely wasn't out of the blue.
But the SEC will likely look into whether Musk had full investor support and whether funding was secured before the announcement.
In a letter to employees, shared publicly about an hour after his tweet, Musk explained the reasoning behind the announcement. "I'm trying to accomplish an outcome where Tesla can operate at its best, free from as much distraction and short-term thinking as possible, and where there is as little change for all of our investors, including all of our employees, as possible," he wrote. The letter didn't have any additional information on the source of funding for the move.
TopicsTeslaTwitterElon Musk
(责任编辑：探索)
5 people Tim Cook calls for advice on running the biggest company in the world
Wordle today: Here's the answer and hints for September 28
How to watch Alabama vs. UTC Mocs football livestreams: kickoff time, streaming deals, and more
Prime Day Vitamix deal: Save over $200 on AmazonMashReads Podcast: What makes a good summer read?Aly Raisman catches Simone Biles napping on a plane like a champion
Simone Biles is exhausted. She won five medals at the Summer Olympics in Rio, posed for selfies with
...[详细]
It's spooky season — and what's spookier than ghosting? Bumble has the answer: "polter-ghostin
...[详细]How to watch Alabama vs. UTC Mocs football livestreams: kickoff time, streaming deals, and more
Wondering how to watch college football this season? Here are your best options:Most affordableSling
...[详细]'Five Nights at Freddy's' review: Who is this for?
Yes, yes, video game movies are made for fans of the games. And as Scott Cawthon's Five Nights at Fr
...[详细]Balloon fanatic Tim Kaine is also, of course, very good at harmonica
You know the old saying: the people want a president they can drink a beer with and they also want a
...[详细]How to watch the UCLA vs. Colorado football without cable: kickoff time, streaming deals, and more
Wondering how to watch college football this season? Here are your best options:Best for single game
...[详细]Wordle today: Here's the answer and hints for September 28
You're nearly there! It's almost Friday — but if your brain's clocked off for the week already
...[详细]NYT's The Mini crossword answers for October 30
The Mini is a bite-sized version of The New York Times' revered daily crossword. While the crossword
...[详细]Metallica to seek and destroy your eardrums with new album this fall
Metallica was never going to keep quiet forever. 。 The band has announced its new album, Hardwired&he
...[详细]REI outdoor sale: Get 40% off REI camping and hiking gear
As of Oct. 27, you can score up to 40% off REI camping and hiking gear. This sale's got everything f
...[详细]Ivanka Trump's unpaid interns share cringeworthy financial advice
How to watch UMass vs. Penn State football without cable: kickoff time, streaming deals, and more
