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Technology,
Securities

Feb. 1, 2023

Plaintiffs’ experts testify about market influence of Musk tweet

Investors who said they suffered billions of dollars in losses because of Elon Musk’s Aug. 7, 2018 tweet stating he was considering taking Tesla private and funding had been secured.

Investors who said they suffered billions of dollars in losses because of Elon Musk’s Aug. 7, 2018 tweet stating he was considering taking Tesla private and funding had been secured called to the stand Tuesday two expert witnesses, who testified on their analyses of the impact of the sudden announcement.

Michael Hartzmark of Forensic Economics told the jury his analysis found that after Musk’s first tweet, Tesla investors lost $4 billion ...

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