Yes, the company was working to build a glass house for the CEO, who is known for tossing metaphorical stones with his tweets. Go figure.
Tesla, the most valuable car company on the planet, is led by the richest person. That makes Tesla a magnet for media attention, which can be a problem for investors who have to sift through a lot to figure out what will affect the stock.
It is ironic, but is it a big deal in terms of investing? The first way to find out is to look at the stock because the market always helps investors see what matters. Tesla stock was up 0.5% in early trading Thursday, while the S&P 500 and Nasdaq Composite were up about 0.2%. That doesn’t reflect a lot of concern.
Yet the magnitude of the fine, if there were to be one, wouldn’t likely be significant enough to move the stock. Tesla paid a $20 million penalty in 2018 over a Musk tweet saying he had “funding secured” to take the company private. The tweet was a big issue for the company, Musk, and investors for quite a while, but $20 million just isn’t a material amount to an automaker.
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