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Though it was shared in a lighter vein, the statement is clearly aimed at testing the extent of the restriction the SEC has imposed on his Twitter activity. Going by Musk’s own words, the intention is to “see what would happen” if the tesla titles are purged. Meanwhile, there was no official announcement from Tesla in this regard.
Deleted my Tesla titles last week to see what would happen. I’m now the Nothing of Tesla. Seems fine so far.
ADVERTISEMENT— Elon Musk (@elonmusk) October 29, 2018
The SEC’s response to Musk’s actions is closely tracked by the investment community considering the recent action against him for the ‘420’ tweet. Interestingly, Musk responded to the SEC action saying the tweet was worth it despite the $20-million fine. He also mockingly called the agency the ‘Shortseller Enrichment Commission’.
Musk, who knows he cannot chair Tesla’s board for the next three years, as per the SEC stipulation, seems to be finding new ways to keep himself engaged, probably at the cost of further spoiling his already damaged reputation.
Ending the volatile streak seen in recent weeks, Tesla shares stabilized after the third quarter results. The stock traded slightly higher in the early hours Tuesday but lost about 2% as trading progressed.