If the SEQ had not left in peace Elon Musk, founder of Teslanow they add their brother to the investigation, Kimbal Muskby alleged insider trading that affected the price of the shares of the firm according to Richard Waters in Financial Times.
Musk noted that Kimbal “I had no idea” in advance about the Twitter poll from late last year.
The Securities and Exchange Commission (SEC) is investigating the sale of shares of the electric car company by Kimbal Musk the day before that his brother launched a Twitter poll in November on whether he should sell a large part of his stake in the company, reported Thursday The Wall Street Journal.
Tesla stock price fell 5% on the first trading day after the surveywhich was supported by an overwhelming majority of participants.
In response to a query from the Financial Times, Musk said in an email: “Kimbal had no idea he was going to do a Twitter poll.”
He also stated that the Tesla’s lawyers They were “conscious” that I was going to conduct the survey. The characteristically unconventional move raised questions about whether Musk had given notice to the company’s lawyers, as he was required to do in an earlier settlement with the SEC.
The report of an investigation came days after Musk’s lawyersaccused the SEC of mounting a campaign of harassment against them.
“The idea that I would care if my brother could sell stocks for a few million dollars less when my Twitter poll made my own stock sale more than a billion dollars less is completely absurd,” Musk said.
In an apparent reference to the vendetta he accused the SEC of, Musk added that the investigation was “just more evidence that Steve sharpened his tiny ax once more.
A letter from the SEC to the court dated 18th of February denying any harassment was signed by Steven Buchholz, Regional Director of Regulatory Compliance.
Kimbal Musk sold 88,500 Tesla shares worth about $108 million the day before the Twitter poll was announced.
Tesla closed the session on Thursday at $800.77 and the location of the moving averages, the 70-period moving average above the 200-period moving average, would give us a bullish signal. Meanwhile, most Ei indicators are bearish.
