Judge gives Musk deadline to respond to SEC's contempt request

MarketFoolery
|

Automatic TRANSCRIPT

Federal judge to hold musk in contempt of court saying he violated the settlement that he agreed to last year must then took to the Twitter's and road something is broken. That's right. You wanna see some contempt and US district. Judge Allyson Nathan has come out this morning and said you've got until March eleventh explain why you should not be held in contempt of court. He got. I mean, it's all it was about a tweet. And let's take him at his word that he wrote we're gonna produce five hundred thousand cars in two twenty nineteen and then he came back and he corrected. He corrected which as a CEO. I mean, he should know that the first amendment doesn't necessarily apply all the way to him. You have to be careful with what you say that doesn't seem that bad. But what he's gotten is a lifetime achievement award for the other crazy things that that he said, which by the way got the SEC and the court system in, you know, interested in him and his butter public utterings in the first place. Let's be clear if Mary Barra CEO of General Motors had tweeted something about production in twenty nineteen. She probably or maybe not she. But certainly the -versities tweeting as very the legal department of General Motors would get a phone call from the SEC. Hey by. The way don't, but as you said because of must history because and especially because of the settlement agreement last year. That's right. And the in some ways when you're just looking at the stock it's a little. I'm surprised maybe I shouldn't be you. Tell me if you're surprised I'm a little surprised that this is a stock that over the last two years has traded in a relatively tight range. This is stock that has basically been in the range of two hundred fifty dollars a share to three hundred fifty share up in doubt, it's visited many places in between those two points, but pretty quickly. But for the last two years, it's really been in that range. It would be amazing to go back to early twenty seventeen twenty seventeen Chris. Hey, Chris, by the way, not much is going to happen with tesla over the next two years stock the stock or. Yeah. I mean, you would. It is amazing that it has not moved that much. Now it moves so quickly under so many, you know, it has huge expectations built into the stock price now and maybe those expectations. Haven't haven't changed that much based on Ilan mosquee, they're speaking or not speaking on Twitter, but I can't think of another company that is more dependent upon it's CEO or seemingly more dependent upon it CEO than tesla is with Alon mosque, particularly since no other executive seems to stay there. Very long. Right. I think the last time we were talking about tesla. It was because the chief legal officer had left after just two months. Yeah. And I wanna go back to something you said regarding musk and his importance to this business and therefore to the stock because I don't think anyone really thinks that the. Board of directors is going to show him the door. I don't I don't think anyone thinks that's going to happen. Now that said do you think in three years two to three years he still CEO because I don't see the board showing him the door. But I could see him at some point saying, you know, what I don't need this. I got other things I'm interested in and I'm gonna go run my space. It's not going to be up to the board. I think you're exactly right. It will either be up to the SEC or it will be up to Alon musk and both of those. I mean, I think it's unfortunate to say are going to be based on how he chooses to comport himself. In the meantime. It's going to be one to watch

Coming up next