Tesla shares slide after Elon Musk calls SEC ‘broken’ in new Twitter spat with market watchdog

J.P. Morgan Securities analyst Ryan Brinkman said that in a worst case scenario, the SEC could again seek Musk’s removal as CEO for violating the terms of the agreement and its shares could fall by a fifth, or more than US$50, in value.

“If the SEC were to seek Mr. Musk’s removal , we believe the shares may approach the mid-$200 levels.” Tesla’s general counsel Dane Butswinkas, hired as an outside counsel to help settle the case with the SEC, resigned a day after Musk made the tweet to which the new SEC case refers. Musk corrected his tweet four hours later to say that the “annualized production rate” at year-end 2019 would probably be about 500,000, with deliveries expected to be about 400,000.

Twitter is killing Tesla. That's one mighty Bird.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Elon Musk is tweeting wrong information again, just as Tesla’s general counsel leaves the companyThe miscues that made 2018 an agonizing year for Musk are back wbh1892 sad
Source: nationalpost - 🏆 10. / 80 Read more »

Tesla shares fall as top lawyer leaves company after only two monthsTesla shares fall as top lawyer leaves company after only two months GlobeTechnology
Source: globeandmail - 🏆 5. / 92 Read more »