Musk vs SEC
Scenario 1: Musk tweeted, he is considering Tesla private. Funding secured. -->> stock went up Few days later, Musk said Tesla will remain public. -->> stock went down. Many lost fortunes Result 1: Musk and Tesla paid fine. Scenario 2: SEC announced they are going to take Musk to the court. -->> stock went down. Many lost fortunes Next day, they settled with musk outside court. Result: why no one is blaming SEC now?? Disclosure: I don't own any of the Tesla stock. I have never bought Tesla stock.
He lost $20m to cost short sellers billions. Not a bad trade.
SEC is a joke, in-fact it’s a stupid fuck entity. Musk showed that to public with this showcase. So for everyone’s loss SEC need to settle for 10mil and later 20mil. It could have made more if it was smart. Musk grabbed SEC by the *****!
The premise of this question is just silly. There are 5 shareholder lawsuits (at least) in court for this action. The SEC suit doesn’t make this go away. SEC is pursuing its mandate of oversight (albeit weakly as it does under market friendly administrations). WTH blame would you place on them?
The difference is insider info