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2022-02-24

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Elon Musk Applauded a Justice Department Probe of Former Tesla Short Sellers

Tesla chief Elon Musk applauded the US Department of Justice's probe into potential short-seller abuses — and snubbed the US Securities and Exchange Commission — in a rare email to a media outlet.In a

Elon Musk Applauded a Justice Department Probe of Former Tesla Short Sellers

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This is something the SEC should have done, but, curiously, did not.&#34;</p><p>Dozens of short sellers have been caught up in a Justice Department probe into their practices and whether they conspired to drive down stock prices by sharing critical research reports before their wider publication. Andrew Left and Carson Block, two short sellers who have reportedly bet against Tesla stock in the past, have been caught up in the inquiry.</p><p>As for the SEC, the regulator and Musk have had a contentious relationship stoked by the Tesla chief&#39;s Twitter account and probes from the agency. Most recently, the SEC pushed back after Musk accused the agency of harassment and &#34;endless, unfounded investigations.&#34;</p><p>Musk, who is known for avoiding media and opting to share information on Twitter, did not immediately respond to Insider&#39;s request for comment. 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This is something the SEC should have done, but, curiously, did not.\"Dozens of short sellers have been caught up in a Justice Department probe into their practices and whether they conspired to drive down stock prices by sharing critical research reports before their wider publication. Andrew Left and Carson Block, two short sellers who have reportedly bet against Tesla stock in the past, have been caught up in the inquiry.As for the SEC, the regulator and Musk have had a contentious relationship stoked by the Tesla chief's Twitter account and probes from the agency. Most recently, the SEC pushed back after Musk accused the agency of harassment and \"endless, unfounded investigations.\"Musk, who is known for avoiding media and opting to share information on Twitter, did not immediately respond to Insider's request for comment. 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