KlipC report: Recently, Musk was targeted by the SEC, it is reported that the SEC is investigating whether Musk's recent sale of Tesla stock violates insider trading rules, affected by the news, Tesla's stock price once fell, although it rose 4.81% after Thursday afternoon to $800, but there is still a gap from the previous $1,000 high, so Musk's value shrank by $13.3 billion in one day, and his personal wealth also fell below $200 billion.
Late last year, Musk launched a poll on social media asking netizens whether they should sell 10% of Tesla stock, and musk has since made good on his promise and begun to sell more than $100 million in Tesla stock.
The SEC believes that although Musk appears to have sold a considerable number of Tesla shares based on the voting results, Musk began to sell shares before that, and Musk's brother, as a member of Tesla's board of directors, sold 88,500 tesla shares the day before the voting results, so the SEC believes that the two brothers may be suspected of insider trading.
KlipC's Andi Duan said: "According to people familiar with the matter, in fact, this investigation began as early as the end of last year, if the conclusion is confirmed, it may be a fatal blow for Musk." ”
However, Musk also responded on social media that his brother was not aware of the polling investigation about him to launch a sale of Tesla shares. At the same time, he also said that his own vote on Twitter led to a loss of more than $1 billion when selling stocks.
Citi analysts said in an interview with KlipC: "Musk and the SEC have been a pair of wrongdoers since they agreed, as early as 2018, the SEC accused Musk of making false and misleading statements to investors, in order to reach a settlement with the SEC, Musk and Tesla each paid a fine of $20 million, and cut off Musk's chairmanship, musk also said on social media recently, the SEC is conducting endless harassment of him with various investigations, and the tension between the two sides has intensified."