Tesla is outgrowing Elon Musk

Article intro image

Tesla’s battle with the Securities and Exchange Commission could be the company’s biggest crisis in almost a decade. And it all started with a tweet.

“Am considering taking Tesla private at $420,” Musk wrote on August 7. “Funding secured.”

Tesla shares soared. But it quickly became apparent that Musk didn’t actually have a commitment from anyone to fund a buyout—at least not in writing. That caught the SEC’s attention. The SEC quickly began investigating Musk’s tweets for possible violation of securities laws, which prohibit manipulating markets by publishing inaccurate information.

Read 30 remaining paragraphs | Comments

Short seller sues Tesla, Elon Musk, claiming buyout tweets were fraudulent

Three days after Elon Musk tweeted that he had “funding secured” to take Tesla private, we still don’t know who, if anyone, has agreed to provide the billions of dollars needed to buy out the company. But plaintiffs’ lawyers aren’t waiting any longer for Musk to provide more details.

On Friday, stock trader Kalman Isaacs filed a class action lawsuit arguing that Musk’s Tuesday tweets constituted securities fraud. The lawsuit, first reported by Reuters, appears to be the first one claiming that Musk’s Tuesday tweets violated federal securities law.

At the time of Musk’s tweet, Isaacs was short at least 3,000 shares of Tesla stock. That means that at some point prior to Musk’s tweet, Isaacs had borrowed Tesla shares and sold them, betting that the price would fall and he would eventually be able to buy them back at a discount, pocketing the difference.

Read 8 remaining paragraphs | Comments

Library of Congress will no longer archive all public tweets, citing longer character limits

 The Library of Congress announced today that it will no longer add every public tweet to its archives, an ambitious project it launched seven years ago. It cited the much larger volume of tweets generated now, as well as Twitter’s decision to double the character limit from 140 to 280. Instead, starting on Jan. 1, the Library will be more selective about what tweets to preserve, a… Read More

Twitter launches ‘Happening Now’ to showcase tweets about events, starting with sports

 Twitter is today releasing a new feature called “Happening Now” aimed to make its service more accessible to newcomers by highlighting groups of tweets about a topic, beginning with sports, before expanding to other areas like entertainment and breaking news. If this sounds similar to Twitter’s existing Moments feature….well, it is. Moments, too, offers a way to learn… Read More

Twitter will launch a bookmarking tool in the near future

 Twitter confirmed it’s planning to launch a bookmarking feature to save tweets for later reading. The addition will help users keep a separate list of items they want to refer back to, instead of using the heart (aka “favorite”) button, which can indicate more of a “like” – similar to the “thumbs up” button on Facebook. The feature’s… Read More

Twitter stops counting @ Replies towards its 140 characters on web and mobile

 Nearly a year ago, Twitter announced it would begin distancing itself from the requirement that all tweets could only contain 140 characters by no longer counting some things – like media attachments or @ replies towards the character count. However, it didn’t begin testing the change with @ replies until last fall. Today, Twitter says this change to replies is rolling out to all… Read More

The risky business of Trump the twittering president

twitter-trump-hat U.S. President Donald Trump is unprecedented in a lot more ways than could be listed in 140-characters. But his prolific and unpredictable use of Twitter is one difference that marks him out from presidents past… Read More

Trump fires a member of his transition team for tweeting fake news

Image (1) axen.jpg for post 188265 So-called fake news has real consequences and everyone in the U.S. keeps learning that the hard way. Not just executives at social networks like Facebook, Reddit and Twitter. Or disgruntled and brilliant Weather Channel meteorologists. Driven by misinformation masquerading as news, in the latest tragic incident, a gunman opened fire in a kid-friendly Washington D.C. pizzeria called Comet… Read More