Elon Musk Sued by SEC for Misleading Investigators, & Weed Reference in Tweet

Elon is now being sued by the SEC and accused of misleading investigators.

They claim his tweet about taking Tesla private at $420 stock price was alluding to cannabis culture, not a legit stock price. Maybe Grime/Slime (his girlfriend's name?) is casting a spell on him? lol

This is seriously like the plot from an episode of that show, Billions (great show by the way)...

A rapper from Harlem who goes by Azealia Banks claimed she was texting with Grimes, Musk's girlfriend who claimed Musk did the $420 thing just for her:

In the texts with Grimes, which Banks posted on her Instagram story in August, Musk's girlfriend appears to state: "he got into weed cuz of me and he's super entertained by 420 so when he decided to take the stock private he calculated it was worth 419$ so he rounded up to 420 for a laugh and now the sec is investigating him for fraud."

Article by Business Insider

The SEC also wants Musk to be barred from serving as officer or board of directors of publicly traded companies.

The roller coaster for Tesla and Elon is just beginning...

Here is a secondary source from CNBC, describing how Tesla's stock price dropped 13% after the news came out: link

All that for rounding up stock by 1$?
I guess some people out there really hate pot still.


a reply to: FamCore

I watched the Joe Reagen podcast with musk where he supposedly smoked pot, and the way he handled that J would suggest not only is he not 'into weed', but that the guy has never even smoked a cigarette in his life.

I don't care what folk do with their time as long as it's not harming others, but that tweet stinks of a cry for insta-attention.

originally posted by: Athetos
All that for rounding up stock by 1$?
I guess some people out there really hate pot still.


a reply to: FamCore

He's under investigation for securities fraud, and "lying about having funding" to take Tesla private. It just so happens that it is an alleged weed reference from his personal social media account that is being used as some of the evidence for the SEC's case

a reply to: FamCore

Ouch! Tesla has had a rough couple of months

LEAVE BRITTANY ALONE! … I mean Elon!

tesla will probly be done for once musk is gone

not that he was doing a good job just think that will be it for them and some big car company will buy them out on the cheap

originally posted by: Athetos
All that for rounding up stock by 1$?
I guess some people out there really hate pot still.


a reply to: FamCore

No one can change any Stock Market value . Not even by .00000000001 cent
If you knew anything about the US Federal Trade Commission and the US Stock Market regulations , you would have not have posted.
What has pot to do with it ?

Just tripe...

Perhaps he's doing these things to drop the stock value so that he can then have enough fundings to buy the company and make it private again?

a reply to: MerkabaTribeEntity

I watched the Joe Reagen podcast with musk where he supposedly smoked pot

He didn't inhale, he puffed it like a cigar lol.

a reply to: FamCore

My conspiracy mind says they made the release on purpose, leading to the drop in price, so they could make more money short selling.

a reply to: FamCore

I don't think Musk did anything wrong, these days people can say any little thing and someone (either a Democrat or a Republican, but mostly Democrats) finds it offensive. It's too bad that CEO's can't mention weed. The stigma really needs to be taken off.

There are whole companies built around things like this, they fabricate or embellish news stories so that a stock will drop, stocks they have put options on. So essentially they are making money by negatively effecting stocks with fake news stories. Musk has been dealing with these companies for a long time and him going private again is really bad for them.

Never claimed knowledge of the system, the OP mentioned pot I followed suit.

Tripe is ripe.

a reply to: Gothmog