Re:Tesla Q1 2020 Update
by xiphias2 on Wednesday April 29, 2020 @06:06PM
(#23025001)
Actually there was a big difference between this tweet (expressing his opinion) and the 420 tweet, which was a statement on a material fact. There exist special laws for CEOs of all public companies, and he should be extremely careful about those statements. The new CFO helps Elon with those though, and Elon just gives really boring statements about the future numbers (as opposed to the products, where he can get more crazy).
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I think those "special laws" harm me as an investor. Corporate speak does not make my job as an investor any easier.
As an investor in Tesla, it's easy to agree. As an investor in Enron, prior, I'm not sure.
But were Enron's issues related to CEO speech, or were they just massive accounting fraud?
I can be in favor of more free communication but still vehemently opposed to misreporting. For that matter, I think it is terrible that we don't require more details in financial statements as it is.