Elon Musk’s tweet cost Tesla investors US$12 billion, jury told in lawsuit

Tesla Investors Lost $12 Billion After Musk Tweet, Experts Tell Jury

Tesla Inc. investors lost $12 billion over 10 days as a result of Elon Musk’s famous tweet in 2018 that he had “funding secured” to take the company private, a witness testified at a trial over the CEO’s liability.

Elon Musk's 'funding secured' tweet cost investors $12 billion over 10 days, jury reportedly told

Michael Hartzmark of Forensic Economics says investors with both short and long positions were burned by Musk's tweet and its aftermath.

Tesla investors lost $12 billion after Musk tweet, jury is told

Musk claims his “funding secured” tweet was truthful

Elon Musk’s tweet cost Tesla investors US$12 billion, jury told in lawsuit

A witness argued that Elon Musk’s 2018 tweet claiming to have secured funding to take Tesla private cost investors US$12 billion, a figure that does not just apply to those part of the lawsuit.

Musk’s Tesla tweet trial delves into investor damages

Depending on the verdict, Musk and Tesla could be facing more financial fallout.

Elon Musk's false 'funding secured' tweet caused Tesla investors 'consequential harm' to the tune of $12 billion, jury told

Testimony on Tuesday was aimed at showing that Musk’s Twitter posts sent Tesla’s stock on a roller coaster ride that hurt investors.