Elon Musk's 'funding secured' tweet cost investors $12 billion over 10 days, jury reportedly toldMusk is being sued by Tesla investors who claim they lost out after his cryptic 2018 tweet.
Elon Musk's"funding secured" tweet cost Tesla investors $12 billion in just 10 days, a jury was told per Bloomberg. Michael Hartzmark of Forensic Economics said investors who took both long and short positions were burned. The"funding secured" tweet at the center of a lawsuit against Elon Musk cost Tesla investors $12 million in the space of 10 days, a jury was reportedly told.
Michael Hartzmark of Forensic Economics told a jury in a market manipulation trial against the Tesla CEO that his 2018 tweet, where he said he was considering taking the company private, did"consequential harm" to investors,Musk is being sued by a group of investors who said his tweet caused huge losses for those holding both long and short positions on the stock, with his comments forcing wild fluctuations in its price.
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