Hyperdrive
Elon Musk’s Twitter Poll Is No ‘Funding Secured,’ Legally Speaking
- SEC has required a so-called Twitter Sitter since 2018
- Musk could use a Ouija board if he wanted, Yale professor says
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It was classic Elon Musk: Take advantage of the weekend --when markets are closed -- and create an attention-grabbing Twitter poll about whether the CEO should sell 10% of his formidable stake in Tesla Inc.
But this time, Musk is unlikely to incur the wrath of regulators with the U.S. Securities and Exchange Commission, in contrast to his infamous “funding secured” tweet in August 2018 about taking the electric-car maker private.