Tesla Trades Higher After Judge Approves Musk's SEC Settlement (NASDAQ:TSLA)

Marcus Newton
October 18, 2018

The electric-car maker recently topped Wall Street's estimates for third-quarter deliveries, but it's unclear if that will translate to the company becoming profitable, as Musk has said will happen this year.

The news comes weeks after Tesla and Musk agreed to pay $20 million each as fine as part of a settlement with the US Securities and Exchange Commission.

Court documents filed by the SEC also suggested that the $420 figure was a reference to drugs, though Mr Musk has denied this.

With the trademark application for the Teslaqula being the only such endeavor Tesla made all year, some might say the auto company has officially gone off track. However, this price is still far under $341.99, the market close share price the day before the time of Musk's original tweet.

Twitter users were surprised when the Tesla and SpaceX CEO tweeted his appreciation for the anime movie blockbuster "Your Name." on October 14.

More news: Russia Says Explosive Device Caused Crimea Blast, 10 Feared Dead
More news: Saudi King Salman steps in as Riyadh defends itself in Khashoggi case
More news: Patriots ban fan who threw beer on Chiefs' Tyreek Hill

Tesla rallied Tuesday morning after a judge approved CEO Elon Musk's settlement over a fraud charge. The electric automaker is steadily increasing the number of Model 3's it's building each week.

Tesla received over 450,000 reservations for its first mass-market electric vehicle since the company began taking deposits on March, 31 2016.

Musk released pictures of the Model 3 after 1 million miles of testing and has impressed even critics. Buyers who pre-order the feature get a discount compared with those who wait for it to become available.

But what really made the Twitter discussion productive was when someone asked Musk if he has watched "Neon Genesis Evangelion", an anime about psychologically disturbed teenagers piloting giant "mecha" robots.

Other reports by MaliBehiribAe

Discuss This Article