Tesla to be examined by SEC over Elon Musk's 'funding secured' tweet
Tesla stock rose on the 'secured' announcement, then later fell.
"The specific regulation lawyers believe Musk could have broken in his “funding secured” tweet is 14e-8 of the Securities Exchange Act of 1934, which prohibits publicly traded companies from announcing plans to buy or sell securities if executives don’t intend to complete, don’t have the means to complete, or are trying to manipulate the stock price."
Bull. China shop.
Tesla stock rose on the 'secured' announcement, then later fell.
"The specific regulation lawyers believe Musk could have broken in his “funding secured” tweet is 14e-8 of the Securities Exchange Act of 1934, which prohibits publicly traded companies from announcing plans to buy or sell securities if executives don’t intend to complete, don’t have the means to complete, or are trying to manipulate the stock price."
Bull. China shop.
via International Skeptics Forum https://ift.tt/2OXJlvJ
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