To lose? Tesla CEO Elon Musk replaces Twitter with bizarre name

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Elon Musk, CEO of Tesla, eccentric, returns to Twitter, launches a series of strange and enigmatic tweets on Wednesday and replaces his Twitter account with "Elon Tusk" with an elephant emoji.

Tesla CEO changes Twitter name to "Elon Tusk"

The new handle is an allusion to this same viral:

Musk was not content to change his pseudo Twitter, and then made a series of announcements and statements about Tesla news and current legal and professional difficulties.

"Elon Tusk" teases Tesla's announcement

Musk has mysteriously teased an upcoming ad, posting three separate tweets for his 25 million followers:

Musk would not be expected to elaborate further on the news, nor did he respond to requests for comments regarding the change of grip.

A distraction from a $ 1 billion bond payment?

The timing of the controller change and the mysterious announcement is interesting, in the midst of the controversy surrounding the charge of securities fraud by Musk, which was settled by a court order that Musk could have violated last week, pushing the SEC to file new court documents. .

Musk was forced to pay a $ 20 million fine and resign as president of Tesla after fraudulently declaring on Twitter that a funding round allowing Tesla to become private had been "secure." It appeared that no funding had been secured and Tesla had lost 11% of its income. its value in stock after the SEC complaint.

After his September indictment, Musk was sentenced by a court to stop "disseminating misleading or inaccurate information via Twitter or other means in the future".

However, a tweet of February 20 might have landed Musk in hot water after it appeared that the numbers inside were not accurate.

After saying "Tesla made 0 cars in 2011, but will make about 500,000 in 2019," Mr. Musk corrected himself, saying that he intended to refer to the production rate annualized and that the actual number of cars delivered was closer to 400,000.

In addition to negative feedback on social media, this error can have legal consequences as the SEC files court documents asking Justice Alison Nathan to sentence Musk for contempt of court.

"He has again released inaccurate and material information about Tesla to his more than 24 million followers on Twitter, including to members of the press, and has made this inaccurate information available to anyone with any kind of information. Internet access. "

As part of the deal to settle his charge for fraud, Musk is required by a court order to pre-approve all tweets and other social media posts that convey important information to Tesla's lawyers. He failed to do so in this case.

"Musk made no diligent or good faith effort to comply with the court's final judgment provision requiring prior approval of its written submissions regarding Tesla. While Musk claims to "respect justice", his deliberate indifference to complying with the court's final judgment shows the opposite. "

In addition, the tweet contributed to the decline in the price of Tesla shares, which will force the company to pay its bond payment of $ 920 million in cash.

CEO of Tesla: SEC monitoring is broken

Musk, on the other hand, seemed totally unrepentant for the tweet, saying the SEC's behavior is "embarrassing", adding yesterday that the organization's watch was "broken" and sarcastically remarking that the SEC "had forgotten to read the transcript of Tesla's results, which clearly indicates 350k to 500k. "

The title of Tesla rose more than 5.67% Wednesday, this increase is roughly related to its activity on Twitter.

Analysts worry about the consequences, however.

"The SEC is trying to avoid taking extreme measures, but Mr. Musk continues to push them," said Rebecca Roiphe, a professor at New York Law School. "It's hard to say how this will end."

Featured image of Shutterstock

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