Musk: No correlation between my tweets and Tesla share movements

Elon Musk, CEO of electric car manufacturer Tesla, argued that his tweets did not cause Tesla’s share price to rise or fall, in the lawsuit he was prosecuted for a Twitter post he made in 2018.

Musk made his defense in the San Francisco Federal Court in the lawsuit filed against him by Tesla investors for a post he made in 2018.

Stating that his Twitter posts do not mean that people believe him or act according to him, Musk said that Tesla did not cause the share price to rise or fall.

Shareholders claim they have been defrauded

Tesla CEO Musk stated in a Twitter post in 2018 that he was considering withdrawing the company from the Stock Exchange by paying $ 420 per share, and the funds were secured for this.

Tesla investors, on the other hand, filed a lawsuit against Musk, saying that they were defrauded and billions of dollars were wasted.

Lawyers for the plaintiff party argue that Musk consciously made the sharing of the subject and caused an imbalance in Tesla shares.