He pointed to an incident in May of 2020 when he tweeted that "Tesla stock price is too high."Tesla shares initially climbed 11 per cent on the day of on his tweet, but they never reached the expected $420 level, reaching a high that day of $387.46.
But the lead plaintiff, Glen Littleton, testified last week that he lost more than 75 per cent of his investments following Musk's "funding secured" tweet. "In his mind funding wasn't an issue, it was secured. But what he said in that tweet was 'funding secured' without elaborating what that meant to him."
Subramanian said that when public companies go private, as Musk was proposing, there's a much more extensive and rigorous process than what Musk and Tesla had gone through.
9NewsAdel Sounds like a witch hunt
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