Will Elon Musk face a $156 million fine for announcing purchase of Twitter stock too late?

Did Elon Musk gain an unfair $156 million advantage by filing a 13D too late with the SEC? We will explain what happened, and why this may get him into more hot water with the SEC.

You’ve likely heard that Elon Musk bought a big chunk of Twitter recently and this sent the stock shooting up. We’ll break that down, but perhaps less front and centre is the story that the required filing you have to make when acquiring such a large chunk of a public company was allegedly late. Is that a big deal? Well, the delay in filing would have allowed Musk to acquire more shares before the stock popped, potentially at a lower price than he would have paid had the news come out earlier. And it looks like this is what happened.
The stock jumped up when the news came out, and he may have ended up making more money, like over $156 million more, than if he had filed on time. Where does that number come from? The breakdown of how that number is calculated is in this video.

00:00 Intro
01:02 Requirement to disclose 5% of stock
02:37 When did Musk become an "Active" investor?
04:48 Maybe he's so rich he just doesn't care
06:14 How do we calculate a potential $156 million unfair gain?
08:43 Previous fines for people who filed 13 D forms late

#elonmusk #twitter #13D

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