Tesla CEO Elon Musk again taunts US market regulator SEC

SAN FRANCISCO: Tesla CEO Elon Musk has again provoked the US market regulator, the Securities and Exchange Commission, while celebrating the surge in the company’s stock.

In a tweet, Musk referred to the SEC as the Shortseller Enrichment Commission.

The tech billionaire made a similar reference to the SEC in October 2018 after the regulator accused him of securities fraud, the media reported.

In September 2018, the SEC filed a lawsuit against Musk over a tweet that claimed that he had funding to take Tesla private at $420 a share. As part of the settlement, Musk had to step down as Tesla Chairman for a period of three years, besides a $20 million fine. Musk even joked that Tesla would “make fabulous short shorts in radiant red satin with gold trim.” “Will send some to the Shortseller Enrichment Commission to comfort them through these difficult times,” he said in another tweet.

As per a report, Tesla shares rose almost 8 pc to close at a record $1,208.66, after it announced it produced over 82,000 vehicles and delivered approximately 90,650 vehicles in the second quarter of this year. “While our main factory in Fremont was shut down for much of the quarter, we have successfully ramped production back to prior levels,” Tesla said.