Jim Cramer Picks a Side on Debate Over Elon Musk’s Infamous Tweet

Tesla CEO Elon Musk’s notorious tweet on Aug. 7, 2018, price him and his firm a mixed $40 million and compelled Musk to briefly step down as chairman of the electrical automobile firm in a settlement with the Securities and Exchange Commission.

“Am considering taking Tesla private at $420. Funding secured.” Musk tweeted on Aug. 7, 2018.

Days afterward on Aug. 10, 2018, traders sued Musk and Tesla alleging the assertion that the corporate had the mandatory funding to take the corporate non-public was fraudulent and that Musk and Tesla had been artificially manipulating the worth of Tesla inventory “to completely decimate the company’s short-sellers.”