Tesla was down… aaannnndddd then it was back up. The deal between Elon Musk and the SEC left investors delighted, and the stock recovered all of its 17% loss from Friday. Not too shabby for a deal that required Musk to step down as chairman and pay a $20 million fine.
The deal also cost Tesla… another $20 million, separate of the initial fine, to settle claims that the company failed to adequately police Musk’s tweet. If you recall, all of this mess came from Musk’s “false and misleading statements” to investors over Twitter.
But Tesla isn’t done yet… because the company is preparing to release its third-quarter production numbers. These productions numbers will allow us to see if Tesla can produce 5,000 Model 3 cars in a week, a milestone the company hit in the second quarter. And now we get to see if the company can replicate those results. Never a dull day for Elon Musk or Tesla..