Elon Musk faces SEC probe for role in Tesla self-driving claims

There is going to be some kind of reckoning around claims about ‘self-driving’ and robotaxis. Elon is currently in a lawsuit that’s in court right now about his ‘funding secured’ tweets and he’s a guy who has pushed the limits of truth.

Consumer Reports this week ranked Tesla’s driver assistance features as 7th among car makers and his competitors certainly aren’t calling theirs ‘self-driving’. There’s a matter of truth in advertising here and I don’t think adding ‘beta’ to the end of it changes that. But if I were Tesla, I’d make the claim that it was ignored by regulators for so long as it’s tantamount to endorsement that the strategy was legal.

In any case, this market no longer cares about reality or fundamentals, it’s all momentum and options activity. Shares of Tesla are up 11% in back-to-back days.

Here’s the Bloomberg report.