Tesla (NASDAQ: TSLA)

Tesla (NASDAQ: TSLA) CEO Elon Musk just can’t keep off social media and with the Securities and Exchange Commission keeping a close watch, investors are wary.

 

Tesla stock fell 2.8% in midday trading Monday after Musk tweeted a production forecast, which was similar to the one that the SEC sued him over a few months ago. The agency said previously that the comments from two months ago were a violation of a settlement he made with the SEC.

 

 

Musk wrote via Twitter that Tesla will make more than 500,000 cars in the next 12 months.

 

Noa DeNova@KnightmarArchon

 

 

Replying to @EvBite and 2 others

When FSD becomes reality, demand will outstrip supply, hence a rise in value for those who already own one.

Elon Musk

✔@elonmusk

 

Very much so. There are 2.5B cars & trucks on Earth. Even replacing 1% of that fleet would require making 25M vehicles per year. Tesla will make over 500k cars in the next 12 months, but that’s a mere 2% of 25M or 0.02% of the global vehicle fleet. Car industry slow -> demand >> supply.

 

The tweet comes as Musk is negotiations with the SEC over attempts to put in controls over his tweeting. A U.S. judge has given the two until April 18 to resolve their differences or she will rule whether or not Musk is in contempt of court.

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