Cars and Drivers
Musk Hit With SEC Suit, Tesla Shares Collapse
Published:
Last Updated:
The U.S. Securities and Exchange Commission (SEC) has announced charges against Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk, alleging fraud when he said he might take the company private and had the funds to do so. Shares dropped 6% on the news.
Musk tweeted that he might take Tesla private, and, additionally, indicated he had access to money to do so. Tesla shares rose, and the action was seen in some corners as self-dealing because of his share ownership.
The suit claims Musk never had the wherewithal to complete the deal.
The SEC wants Musk to be prevented from serving as an officer in a public company.
Are You Still Paying With a Debit Card?
The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.
Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!
Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!
Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.