The renewed public battle between Tesla's chief executive and the SEC adds pressure on Musk, the public face of Tesla, who is struggling to make the company profitable after cutting the price of its Model 3 sedan to $35,000.
However, the US-firm has since announced plans to reverse the decision that would close the majority of its 378 stores globally.
Unfazed by the fact that he's now legally feuding with the SEC for tweets regarding business operations at Tesla, Musk again took to the social media site on Tuesday to explain that Tesla "shouldn't have offered" lower prices on Model S and Model X vehicles. Based on the Model 3, the mid-sized SUV will sit below the Model X, and while details are still scarce, we can make some educated guesses about what the vehicle could look like.
At Morgan Stanley, Adam Jonas cut his price target for the stock by $20 to $260, far below FactSet's average near $337, while also lowering his estimates for sales volumes, average selling prices, and margins.
All US diplomats have left Venezuela, says Mike Pompeo
The State Department had already announced that it would withdraw its remaining diplomatic staff from Venezuela this week. The Venezuelan government said on Tuesday that some electricity has returned in some areas, Associated Press reports .
Messages were left Monday seeking comment from a Tesla spokesman. Tesla paid for the purchase with about 50,000 previously authorized shares. He also said that Autopilot prices would "revert to normal on Monday" (via Business Insider). Musk also said that Tesla was still closing some stores, despite whipsawing reports of closures, freezes, and stores remaining open, over the last two weeks. Last year, Tesla's total headcount increased by 30 percent, "which was more than we can support", Musk wrote in a company blog post.
"However, cars will still be available for test drives at stores at the potential Tesla owner's request". The company is also working on changing the overall shopping experience of the customers, where they will allow them to try out the Model 3 before buying it. Tesla is also offering full refunds if in case the customer returns the vehicle within seven days and has driven it less than 1,000 miles. Tesla has been showing the base Model 3 to be dependent on the lowering of the company's retail costs.
That doesn't mean every Model Y will be made in America.