SAN FRANCISCO, Jan 21 ― Tesla CEO Elon Musk took the stand in a California fraud trial yesterday, accused of lying in tweets about taking the auto company private, punishing...
SAN FRANCISCO, Jan 21 ― Tesla CEO Elon Musk took the stand in a California fraud trial yesterday, accused of lying in tweets about taking the auto company private, punishing investors.
Musk, who bought Twitter itself in October, downplayed the power of his tweets noting under questioning that he once posted that he thought Tesla share price was too high, and “it went higher, which is counter-intuitive.” He called Musk's tweeted proposal to take Tesla private as “illusory” and “just wrong” in how it deviated wildly from the way such mega-deals usually take place.
Called as the first witness, 71-year-old Littleton told jurors he was heavily invested in Tesla in 2018 in a way that banked on the share price climbing to US$500 or more.
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