Tesla CEO Elon Musk is in conflict with the SEC again—Cramer and other experts weigh in on what's next
Tesla CEO Elon Musk is once again at odds with the Securities and Exchange Commission, and experts say the conflict could exacerbate Tesla's stock losses. On Monday the SEC asked a judge to hold Musk in contempt, alleging he violated a settlement deal that bans him from tweeting about the business without preapproval. The watchdog agency cited a Feb. 19 tweet from Musk that said his automaker would make"around" 500,000 vehicles in 2019, which he later clarified.
""What they do is they call down the outside directors and they say, 'Hey, guys, we're done with that CEO. Which one of you wants to step up to be CEO?' Now, I don't think people realize this, but that's the way it works. [...] What does he think he is, the president?" Harvey Pitt, former chairman of the SEC and current CEO of consulting firm Kalorama Partners, sides with the agency."There's a fundamental problem here: Musk is a creative genius.
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