Look what the cat dragged in: The SEC is officially coming after the world’s richest sh*t talker over his 2022 Twitter stock grab. The allegation? Musk apparently forgot to disclose his growing Twitter stake on time, saving himself a bigly $150 million in the process. Must be nice LOL.

(Source: Giphy) 

In short, back in early 2022, while Twitter was still a public company and not Elon's personal meme factory, Musk was quietly scooping up shares like a Black Friday shopper at Best Buy. By March, he had crossed the SEC’s magical 5% ownership threshold, triggering a legal requirement to disclose his stake within 10 days. But did Elon hit submit on that SEC form? Lol, no. Instead, he waited 21 days—11 days past the deadline—before nonchalantly announcing he now owned 9% of Twitter.

Cue the collective chaos from regulatory heads everywhere. As soon as Musk finally made his stake public on April 4, Twitter shares rocketed 27% in a single day, closing at $49.97. The SEC says this delay allowed Musk to keep sniping shares at bargain-bin prices while retail traders and institutional investors were left in the dark. The agency’s math suggests that Musk’s radio silence shaved $150 million off his total acquisition cost. That’s right: the richest man in the world allegedly saved himself enough cash to buy, like, 2 ½ more SpaceX launches ($62 million per launch FYI). 

(Source: New York Times) 

Naturally, Elon’s legal team wasted no time firing off a statement calling the SEC’s lawsuit a “sham” and accusing them of swinging for the fences on a non-case. Musk’s lawyer, Alex Spiro, went full scorched-earth, claiming this whole thing is a desperate last gasp from a lame-duck administration.

And because it’s Elon, he didn’t stop there. He hopped on X (formerly known as Twitter, in case you’ve been living under a rock) to throw some shade, as is tradition. At this point, his beef with the SEC is less of a professional dispute and more of a toxic relationship that neither party can quit.

(Source: AP) 

But, but, but… still, the SEC’s complaint paints a picture of some high-level finesse behind Musk’s Twitter stock grab. Elon’s wealth manager allegedly telling brokers to buy shares in ways that wouldn’t spike the stock price and his broker, apparently aware of the disclosure rules but still helping Musk gobble up $500 million worth of Twitter stock between March 25 and April 1, 2022? That’s some next level slyness. Plus, when you factor in Elon’s hoax to take Tesla private at $420 per share, “funding secured” stunt—which cost him $20 million and his Tesla chairman seat—it’s clear the SEC isn’t exactly in a forgiving mood this time around. 

Of course, this lawsuit isn’t  just about Musk allegedly saving himself $150 million (though that’s a helluva headline). The SEC claims his late disclosure also screwed over regular investors who might’ve sold their shares at higher prices had they known Musk was buying up the company. Essentially, the SEC is arguing that Musk broke the game, and they’re here to fix it... or at least try to.

(Source: Giphy) 

So yeah, whether the SEC can actually make a case stick remains to be seen, but one thing’s for sure: Elon isn’t going down without a fight. Expect more tweets (or X posts, whatever people are calling them now), more legal drama, and probably a few more memes before this is all over.

For now, the markets will keep watching, popcorn in hand, as the SEC and Musk go another round in their never-ending feud. And if you’re a Twitter/X shareholder from back in the day, well, maybe go check if you were one of the unlucky schmucks selling your shares for less than they were worth. You might have a bone to pick with the SEC’s favorite punching bag LOL.

In the meantime, stay safe and stay frosty, friends! Until next time…

P.S. While Elon is busy causing drama and making headlines that legit don’t really matter to making money in the markets—our Stocks.News premium members are about to get a juicy-sized opportunity very soon. And let me tell ya, you don’t want to miss it. Click here to join Stocks.News premium to ensure you’re in the know before the fireworks POP! 

Stocks.News holds positions in Tesla as mentioned in the article.