Economy

Elon Musk on Twitter is now a labor issue

Elon Musk on Twitter is now a labor issue

Just days after hastily abandoning a short-lived exploration of taking Tesla Inc. private, Elon Musk returned to Twitter to showcase the impulsiveness that has raised the eyebrows of investors and regulators alike lately. "According to a subsequent Twitter post, you did so out of anger", Wood wrote, adding that he was "preparing a civil complaint for libel".

Congratulations to Musk, who continues to play himself.

Tesla has said it has various lots in California where it keeps cars before delivering them to distribution outlets. Musk said in a tweet last week that he was no longer pursuing a plan to privatize Tesla.

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When Amy Nelson read The New York Times' recent interview with Tesla CEO Elon Musk - in which, The Times said, "he alternated between laughter and tears" in describing "the most hard and painful year of my career" - her first thought was, "I would never cry in front of a journalist as a female CEO".

"Nonetheless, his actions against me do not justify my actions against him, and for that I apologize to Mr. Unsworth and to the companies I represent as leader", Musk tweeted. The SEC has not commented on Musk's tweets. Of 27 analysts tracked by Thomson Reuters I/B/E/S, 10 have hold ratings on the stock, nine recommend buying and eight recommend selling.

Tesla's shares fell about 1.5% in early trade despite the Nasdaq, on which it trades, opening higher.

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Reports that emerged after the tweet and a statement from Musk suggested that, at the time of the tweet, he did not have legally binding agreements in place that would provide enough funding to convert Tesla into a private company.

Elon Musk, CEO of Tesla Motors Inc., unveils the companyís newest products, Powerwall and Powerpack in Hawthorne, Calif., Thursday, April 30, 2015.

Some of Musk's predictions have been way off. Musk said during a May 2016 earnings call that, during the second half of 2017, he expected Tesla would produce between 100,000 and 200,000 Model 3 sedans - the lower-priced auto that's pivotal to the company generating profit. The bank now has a "sell" rating on the stock.

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And there it remained until Tuesday when, amid a Twitter discussion about an interview earlier this month with The New York Times during which the reporters wrote that Musk was driven to tears. The dip has generated more than $942 million in paper profits for short-sellers, according to S3 Partners.