It reached a 52-week high of $387.46 on August 7 when Musk tweeted his plan to take Tesla private.
The tweet calling the SEC the “Shortseller Enrichment Commission” came just hours after a federal judge ordered Musk and the SEC to write a letter justifying a settlement which allows him to remain in charge at Tesla.
Musk’s latest tweet, which appears to be missing a word, did little to reassure investors who have endured volatility in Tesla’s stock caused by his public comments.
Both Tesla and the SEC did not respond to requests for comment by FOX Business. “It’s what they do”, he tweeted. “Why would they be upset about their mission?”
West has tweeted several times about the need for “innovation” and new technology, and in 2011, he went to visit the SpaceX rocket factory with Musk.
On September 27, the SEC had filed charges against Musk, claiming that he made false statements about taking his company private at $420 a share.
Rapper Kanye West defended Tesla CEO Elon Musk in dramatic fashion Tuesday during a visit to Detroit’s College of Creative Studies.
Tesla shares are on track for their fourth consecutive daily decline and are down about 9.5 per cent this year.
Another Tesla bull, Gerber Kawasaki CEO Ross Gerber, was more blunt in expressing his disapproval of Musk’s post.
The SEC sued Musk last Thursday, and he and the agency reached a settlement on Saturday.
“It is the essence of free speech”.
‘I do not think there is any serious chance of the settlement being rejected, based on 2nd Circuit precedent, ‘ Pritchard added. “It’s just plain bad taste”.
The Tesla boss dislike of short-sellers is well-known: He once called them “jerks who want us to die“.
On Friday afternoon, shares were recently trading down about 7 percent.
His tweet came as the NY judge overseeing the settlement declined to immediately approve the deal. A judge has yet to approve the settlement.
Over the weekend, Musk fired off another tweet that some took as a subtle jab at the regulators seeking to control him.