The securities regulator of the United States is about to consider looking into a tweet made by the world’s richest man, Elon Musk.
Although legal experts are of the opinion that the joke might not give rise to much legal trouble.
Elon Musk, who has a whopping 103 Million followers on Twitter, interrupted the Tuesday blues with his tweet which read, “I’m buying Manchester United ur (sic) welcome,”
To this, he added later on that the tweet was just a joke.
The joke made by Tesla’s CEO led to a 7% hike in Manchester United shares.
Retweet this post as a sign of YOUR support for Elon Musk to purchase Manchester United.— UtdPaper (@UtdPaper_) August 17, 2022
We will send a copy of the tweet & support to his company. @elonmusk #GlazersOut#GlazersOutNOW #GlazersSellManUtd pic.twitter.com/bSh76IWKPj
Musk had been making plans to buy Twitter since March 2022. Earlier this week Court ordered Twitter to hand over the executive documents that were necessary to run the company.
The securities regulator is to investigate subsequent tweets made by the Tesla CEO. There is also much speculation around the $44 Billion Twitter deal made by Musk.
This jovial move by Elon Musk is to bring about much speculation from the government considering the effect it had on shares. Musk is known to have flouted quite a few rules relating to US securities.
Obligations are likely to arise from the investigations if regulators are to find out that the joke made by Musk was done to influence the market shares, an ex-lawyer from the Justice Department held.