Just hours ago, we heard about how Elon Musk, CEO of electric vehicle stock Tesla (NASDAQ:TSLA) and former Chief Twit of Twitter, now merely X, was about to be sued by the Securities and Exchange Commission (SEC) for avoiding subpoenas. Now, we discover that the SEC plans to really put the screws to Musk as they’re prepared to get him to testify by force if they have to. Force of judge, that is.
Late yesterday, the SEC noted that Musk did not appear before them as requested to discuss the matter of his acquisition of Twitter shares before he took the company over. Now, the SEC turned to a federal court in San Francisco to force Musk to not only show up but also to testify on the matter. The SEC has been investigating Musk since 2022 and, in the process, has cast a wide net, seeking “thousands” of documents from not only Musk but from several others as well. Reports note, however, that Musk isn’t exactly being non-cooperative; he’s already sent “hundreds” of documents to the SEC and has testified twice.
Is Tesla Stock a Buy, Sell, or Hold?
While Musk fends off the SEC and tries to keep Tesla aloft, analysts are willing to help out, if only marginally. With 12 Buy ratings, 13 Holds, and four Sells, Tesla stock is considered a Moderate Buy. Further, Tesla stock’s average price target of $264.56 affords it a modest upside potential.
