Why Tesla Stock Jumped Today
Shares of Tesla (NASDAQ: TSLA) popped 3% as of 10:10 a.m. ET this morning after Reuters reported CEO Elon Musk as having filed an appeal to end his 2018 agreement with the Securities and Exchange Commission (SEC) over his Twitter posts.
Meanwhile, an analyst just forecast stronger days ahead for the electrical vehicle (EV) manufacturer.
After the SEC filed a lawsuit in 2018 alleging that Musk defrauded investors through "false and misleading statements" on Twitter about having secured sufficient funding to take Tesla private, Musk and Tesla entered into an agreement with the regulator. As part of the settlement, Musk stepped down as Tesla's chairman, and Tesla and Musk agreed to pay $20 million each in penalties while also agreeing to have the CEO's tweets about any material business information screened by a lawyer before posting on the social media platform.
Source Fool.com
