Tesla's Self-Driving Option is About to Get 'Substantially' More Expensive


If they can't reach an agreement, the judge will rule whether Musk's newest tweets are in contempt of the SEC settlement.

Stock Forecast: How Profitable is Investing in Tesla? Musk later had to walk back the claims.

SEC attorney Cheryl Crumpton recommended fines for Musk if Nathan finds him in contempt of the October settlement.

Authorities concluded he hadn't lined up the sum to pull off the deal, although musk backed the concept of taking the company private.

The SEC states Musk violated a deal when he tweeted without a lawyer's approval.

"There is 35 GWh/yr "theoretical capacity", but actual max output is ~2/3", Musk said in a tweet.

It is unclear if Musk plans to attend the hearing loss. "I am confident the trial court will likewise reject this fanciful position which if adopted, would effectively prevent an individual from seeking redress for any and all false and defamatory attacks on reputation published on the Internet", Wood said.

Meanwhile, Tesla's shares fell 8% Thursday after the company said it churned out 77,100 vehicles well behind the pace it has to maintain to meet Musk's pledge.

Musk's lawyers say his tweet that Tesla would create approximately 500,000 vehicles since it wasn't new information that could be meaningful to 31, this season did not require pre-approval.

As of Wednesday's close, Tesla shares were down 12.3% up to now this year.

The SEC sought to oust Musk out of his role as CEO and chairman within his August tweet.

Musk's legal team has argued that he retained discretion to determine whether he was sending out material information or not, and that his February 19 post about Tesla's 2019 production was consistent with comments he made weeks earlier on an earnings call.

Musk's unpredictable behaviour has led some to wonder whether he ought to stay CEO of Tesla, but others say he's precious and the visionary behind the company to lose.

Besides from having a rough week in the market, Tesla stocks saw a -11% decline in the period of the previous year, while gains on S&P 500 went by 9% in oppose to the share price decline in the period of the last 12 months.