#premarket

Musk to recover $1.2bn based on pre-market

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Musk stands to recover $1.25bn in wealth if the pre-market indications of Tesla prove correct. A $20mn fine from the SEC which effectively wiped $1.3bn of wealth will all but be restored. Is it just that investors think that nothing will change even if he isn’t chairman? Did the SEC fold to his star power or did they receive a free flame thrower to lighten the charge? While $20mn looked like a proper slap on the wrist he can shrug off the incident like it didn’t happen. All in all pretty impressive. He lives to fight another day.