Elon Musk has had problems in the past with the SEC for tweeting about Tesla's stock.
Tesla is in the midst of defending itself in a significant volume of shareholder and other lawsuits. A federal judge decided in early April that Tesla and Musk have to face suit over his infamous $420 tweets. Shareholders claim that Tesla misled them when Musk said on Twitter in 2018 that he was considering taking Tesla private for $420 per share, and had secured funding for the transaction. Shares skyrocketed, trading was halted and volatility followed.
In January, all board directors of Tesla besides Elon Musk settled a shareholder lawsuit over the company's $2.6 billion acquisition of SolarCity in 2016. They paid $60 million for their part of the settlement. But Musk is due to stand trial as a last defendant against claims hea failing solar installer, which he co-founded and ran with his first cousins, Lyndon Rive and Peter Rive.
The tweet about Tesla's stock was among others from Musk in the morning. Musk also said he was "selling almost all physical possessions" and to give people back their freedom, presumably referring to shelter-in-place orders. He later shared lyrics to the Star Spangled Banner with his followers. Musk has been outspoken about the coronavirus pandemic, telling investors on the company's Wednesday earnings call that shelter-in-place orders are "Tesla did not respond to multiple requests for comment.
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