Happy Nice Mall

Some shareholders say Mr Musk’s off-the-cuff posts on Twitter – drawing comparisons between once Canadian prime minister Justin Trudeau and Hitler – have already hurt Tesla.

“The guy said some very controversial things,” said Kristin Hull, founder and CEO of Nia Impact Capital, an Oakland, California-based fund that invests in companies with positive social impact. “Distractions? Are they confusing? Did he interfere with share value with his tweets? Exactly.”

Ms Hull said that with Mr. Musk owning Twitter, it “only gets bigger”. Nia said she recently sold most of her shares in Tesla because the fund wasn’t happy with the company’s response. accusations of racism At its factory in Fremont, California.

Mr. Musk’s Twitter ownership may alienate some potential Tesla buyers. According to Morning Consult, a research firm, Democrats outnumber Republicans by almost two-to-one among those considering buying electric cars. However, Democrats are also the group that will be put off the most if Mr. Musk opens Twitter in the name of freedom of speech. extreme opinions or incorrect information.

The Twitter acquisition could intensify scrutiny of Mr. Musk by stock market regulators. He was sued by a Twitter shareholder who accused him of missing the legal deadline to declare that he owns a 5 percent stake in the platform.

The lawsuit, filed by Boston law firm Block & Leviton, alleges that Mr. Musk saved tens of millions of dollars by waiting six days for the deadline to announce his stake. According to the lawsuit, he was able to continue to buy Twitter shares cheaper than would have been possible had his interest been made public.

Mr. Musk has a long history of animosity with the Securities and Exchange Commission. last month he Failed to persuade a New York judge If the wording could move Tesla’s share price, to release it from a 2018 deal with the SEC that required a corporate lawyer to scan social media posts.