Elon Musk Is Buying Even More Tesla Stock

The formal approval of the settlement between the three, brings an end to the potential uncertainty for investors in the firm, following Musk's now infamous tweet that funding was secured to take the company private. That led to the SEC imposing a $20 million fine each, on Musk and Tesla. The stock has lost 14% in the year, versus advances of 3.7% and 3% for the S&P 500 index and the Dow Jones Industrial Average.

Musk's new share purchase is "separate and apart from the settlement", Tesla said in its filing.

Tesla did not respond to a request for comment.

The settlement was approved by a US judge on Tuesday. Musk later scrapped the proposal, saying investors believed that Tesla would be "better off as a public company".


Elon Musk is the public face of Tesla and losing him would be a big blow for the money-losing auto maker which has a market value of more than $50-M, chiefly because of the company's "cult" investors' belief in his leadership. The agency moved with unusual speed, questioning Musk, Tesla's board and other executives.

The American edition of CNBC reported earlier that the company Tesla, which is a co-founder Elon Musk, has filed an application for registration of a "drink from the plant agave".

Musk and Tesla agreed to resolve the probe without admitting or denying wrongdoing. "That's our goal. I think we made really good progress in that direction. the drive unit that is going out now and for the last several months have been excellent". Nevertheless, less than 40 minutes after his tweet about Your Name, Musk tweeted the message "It is time to create a mecha". "The total package of remedies and relief announced today are specifically created to address the misconduct at issue by strengthening Tesla's corporate governance and oversight in order to protect investors", had said, at the time, Stephanie Avakian, Co-Director of the SEC's Enforcement Division.


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