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Tesla shares rose 16% after Musk deal and US authorities
Mon Oct 01, 2018 5:54 pm
After the company founder Tesla Ilon Musk agreed to enter into an agreement with the US Securities Committee, the company's shares rose sharply by 16%.
This was reported by Reuters.
"We see the agreement between Musk and the US Securities Commission as a positive change, as it will improve corporate governance and allow investors to focus solely on stock exchanges," said Jad Dorsham, an analyst at the Canaccord Genuity stock exchange.
It should be noted that Ilon Musk agreed to pay a fine of $20 million and leave the post of chairman of the board of directors of the company. In addition, $20 million will be paid by Tesla itself.
Earlier, the US Securities and Exchange Commission accused the Musk of Fraud that it was demanding that Musk be removed from the position of CEO of Tesla for fraud.
The lawsuit against the federal Manhattan court against Musk says he mislead investors with a series of tweets published on August 7 about the possibility of redemption of shares at $420 per share and thus withdraw the company's stock exchanges.
After Musk's statement, some investors filed a lawsuit against him , as the shares of the company skyrocketed, namely, the rise in price was caused not by market factors, but artificially.
And on August 25, Musk refused to buy the Tesla.
Earlier, the US Justice Department began an investigation against the Tesla head of Ilon Musk through Tesla's ransom.
On August 2, it was reported that Tesla Motors lost about $718 million for the quarter which was the largest outflow of money from the company in its history.
Tesla stocks began to fall due to unwarranted expectations of investors regarding the number of cars produced and the problems with autopilot.
hromadske.ua In Ukrainian/український
This was reported by Reuters.
"We see the agreement between Musk and the US Securities Commission as a positive change, as it will improve corporate governance and allow investors to focus solely on stock exchanges," said Jad Dorsham, an analyst at the Canaccord Genuity stock exchange.
It should be noted that Ilon Musk agreed to pay a fine of $20 million and leave the post of chairman of the board of directors of the company. In addition, $20 million will be paid by Tesla itself.
Earlier, the US Securities and Exchange Commission accused the Musk of Fraud that it was demanding that Musk be removed from the position of CEO of Tesla for fraud.
The lawsuit against the federal Manhattan court against Musk says he mislead investors with a series of tweets published on August 7 about the possibility of redemption of shares at $420 per share and thus withdraw the company's stock exchanges.
After Musk's statement, some investors filed a lawsuit against him , as the shares of the company skyrocketed, namely, the rise in price was caused not by market factors, but artificially.
And on August 25, Musk refused to buy the Tesla.
Earlier, the US Justice Department began an investigation against the Tesla head of Ilon Musk through Tesla's ransom.
On August 2, it was reported that Tesla Motors lost about $718 million for the quarter which was the largest outflow of money from the company in its history.
Tesla stocks began to fall due to unwarranted expectations of investors regarding the number of cars produced and the problems with autopilot.
hromadske.ua In Ukrainian/український
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