Elon Musk, in exclusive comments to CNBC, lauded the Justice Department for investigating short sellers, who have long been a target of his ire
, is focusing on alleged instances of so called "spoofing" and "scalping." Spoofing involves illegally using fake orders to pump or crash a stock price while scalping is when activist investors close out their positions without disclosing that move.
Muddy Waters Research founder Carson Block, a vocal critic of Musk's who has shorted Tesla stock, is reportedly among the investors who have been served search warrants by federal investigators in the short-seller probe. Block said in a statement to the Journal: "I've been saying for several years that it is critical for all stakeholders in the ecosystem to develop sophisticated data analysis capabilities to detect problematic trading. It's dangerous to outsource these analyses to non-practitioners."
The New York Times reported last year that Block was moving on from shorting the electric vehicle giant. In athe Times obtained, Block explained his decision to allies by saying "the market cap, the luster, the élan of Elon, is still there." Andrew Left, another one-time Tesla short, had his computers seized by federal agents, according to Bloomberg. Left said inMusk's war with short sellers goes beyond advocating for his company.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk reportedly has a new girlfriend following his breakup with GrimesElon Musk is reportedly in a relationship with Australian actress Natasha Bassett. Musk most recently dated musician Grimes — they share a nearly 2-year-old son.
Read more »
New Elon Musk Tweet Leaves SHIB Army and Huobi PuzzledTesla boss has posted a new tweet that has made prominent SHIB and Huobi accounts wonder what the innovator had in mind when posting it
Read more »
Elon Musk accuses the SEC of leaking information against him | EngadgetTesla CEO Elon Musk has accused the Securities and Exchange Commission (SEC) or leaking information about a federal probe to retaliate against him.
Read more »
Elon Musk criticizes Elizabeth Warren after she says he paid 'zero' in taxesThe user pointed out that in 2021, Musk will pay 'the single largest tax bill of any individual in history,' which is 'over $11 billion.'
Read more »
Elon Musk Will Probably Bring Cybertruck To Tesla TakeoverElon Musk will probably bring the Tesla Cybertruck to the Tesla Takeover in August. He tweeted 'Probably' and 'Cybertruck' to an invite
Read more »
Tesla CEO Elon Musk accuses the SEC of ‘leaking’ informationElon Musk accuses the SEC of 'leaking' information from federal investigation
Read more »