Tesla shares dropped below the $270 mark this week, Wall Street is now focusing closely on the $250 figure which Tesla shares have not closed below since March 2017.
A NY judge has urged the U.S. Securities and Exchange Commission and Tesla CEO Elon Musk to settle a dispute over what he may disclose in his tweets. That was bullshit, he had not secured funding, and it turns out you can't just tweet bullshit when you run a public company.
The SEC argued that Musk should be held in contempt because he "did not seek or receive pre-approval prior to publishing this tweet, which was inaccurate and disseminated to over 24 million people".
Judge Nathan seemed frustrated by the entire situation, stating that she had "serious concerns that, whatever I decide here, the issue will not be finally resolved". The SEC also asked the judge to force Musk to check in regularly with the SEC to prove his compliance with the terms of his deal with the agency.
U.S. District Judge Alison Nathan concluded a contempt-of-court hearing Thursday by telling both sides to meet in the next two weeks.
Macron: EU Won’t be Held Hostage to Brexit Crisis
The British pound rose on the news. "The British parliament must now make a decision and finally say what London wants". The Commons has approved a business motion that will allow them to debate a bill created to prevent a no-deal Brexit.
Oil Rally Slows On Surprise Crude Build
Earlier this week, a survey from Reuters said OPEC's oil production in March 2019 fell to its lowest level since February 2015. Oil climbed to a four-month high in NY as a further retreat in OPEC's production signaled that global markets are tightening.
Burger King Is Testing an Impossible Whopper in Missouri
The Impossible Whopper has mayonnaise, which can be omitted by request, and is cooked on a surface shared with conventional meat. Burger King is the biggest fast-food company to launch a vegetarian-friendly burger option to date, but it's far from the first.
Tesla also said it only delivered 63,000 vehicles in the quarter, down 31% from 2018′s fourth quarter.
Since the case began, he has dubbed the regulator the "Shortseller Enrichment Commission", recalling his attacks on investors who sell Tesla stock short.
The SEC says its deal doesn't restrict Musk's freedom of speech because as long as his statements are not false or misleading, they would be approved.
"Tesla's 1Q19 vehicle production & deliveries report was substantially worse than expected", said Ryan Brinkman, a J.P. Morgan analyst who had been waiting for the automaker's announcement following the end of its first quarter in 2019.
Tesla reiterated its forecast of 360,000 to 400,000 vehicle deliveries in 2019, which Munster called a "silver lining" that may show buyers are still clamouring for the cars. A year ago in July he accused the British diver in Thai cave rescue operation by calling him a pedo'.