Quote:
Originally Posted by JSH
Tesla's production numbers don't matter. What matters is if someone from Tesla is reviewing every one of Musk's tweets before he publishes them.
The judge has given Tesla until March 11th to explain why Tesla and Musk should not be held in contempt of court for violating the SEC agreement.
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Put like that the SEC agreement itself violates the law.
But IIRC Musk was to have his tweets monitored whenever that tweet contains stock market sensitive data, like yet unpublished projections of production numbers.
But was that tweet market sensitive, really?
In the past Tesla has voiced the expectancy to produce 10,000 model 3's a week by mid 2018... So the claim that Tesla would produce 'about' half a million cars in 2019, all models combined, is hardly surprising.
Moreover, at the current production rate half a million is very likely indeed. The stock market should expect Tesla to build that many cars.
So how can it be market sensitive information?
But of course, Musk had better compared the 0 cars made in 2011 to the 245,000 or so produced in 2018. He only wanted to make a point of Tesla's spectacular growth after all.
And he definitely should not have sent the corrective tweet afterwards- because it feeds the distractors and is BS anyway. Only 400,000 cars? Are they going to slow down production then?
Anyway, I expect Musk to receive a fine. That's fine. And when Tesla crosses 500,00 this year, they'll get a free media storm in their favor for getting a fine for tweeting the truth.
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