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Tesla CEO Elon Musk arrives for a U.S. Senate bipartisan Artificial Intelligence Insight Forum at the U.S. Capitol in Washington, D.C., Sept. 13, 2023. Companies often see their stock price jump after announcing job cuts, as Wall Street rallies around the prospects for improved efficiency and profits. In 2022, the stock plunged 9% on initial reports around layoffs but recovered after Musk made clarifying comments days later. In China, Tesla has faced an onslaught of competition from domestic EV makers, including BYD and the phone maker Xiaomi. Prior to the layoffs, Tesla had been cutting prices and providing other buyer incentives, leading to likely margin erosion.

Persons: Elon Musk, that's, Musk, Tesla, FSD Organizations: U.S, Senate, Intelligence, Capitol, Washington , D.C, Tesla Locations: Washington ,, China, U.S

They also shared their findings with X Corp. days ahead of publication. Musk has claimed, without providing data, that bot activity has fallen since he acquired Twitter. In recent weeks, X Corp. sued Bright Data and the Center for Countering Digital Hate, for example, raising the ire of House Democrats. NCRI partners with Bright Data for pro-bono access to social media data, Goldenberg noted. X Corp. did not immediately respond to a request for comment.

Persons: Sam Bankman, NCRI, Elon Musk, Pepe, altcoin PEPE, Musk, Alex Goldenberg, Goldenberg Organizations: Twitter, Alameda Research, Network, Research, New Jersey GovSTEM, X Corp, Tesla, SpaceX, NCRI, Bright Data, Center, Democrats, Bright Locations: Hong Kong, China, New Jersey

Musk has litigated with the SEC for years over the consent decree, which was revised in 2019 after the SEC charged Musk with making "false and misleading" statements in his Aug. 2018 "funding secured" tweets. The agreement required "pre-approval" for tweets by Musk that contained information material to Tesla, and which extended to "certain senior executives," according to the judgment. A February letter from Musk attorney Alex Spiro said the terms of the consent decree, which was revised in 2019, amounted to "unconstitutional" infringement of his free speech rights. Far from being "bad-faith," the court wrote that "each tweet plausibly violated the terms of the consent decree." Musk was found "not liable" in a February securities fraud trial over his "funding secured" tweets.

Niche cryptocurrency dogecoin spiked more than 30% on Monday after Twitter CEO Elon Musk replaced the blue bird on his company's website with an image of a shiba inu, the digital coin's logo. After the Twitter logo was altered to a shiba inu image, Musk shared a meme about the change to his 133.5 million followers on Twitter. But Musk's public endorsement of the coin goes further than social media messages. In January 2022, when Musk announced on Twitter that dogecoin payments were live, the cryptocurrency jumped as much as 15%. "We have not sold any of our dogecoin," Musk said on an earnings call last year.

Tesla shares surged 33% this week, marking their best weekly performance since May 2013 and second best on record. The rebound followed a six-month period in which Tesla shares had declined more than 40%. The stock's 65% plunge in 2022 was its worst in Tesla's 12-plus years as a public company. Official guidance called for production of 1.8 million vehicles this year. The company has not revised its longstanding target for 50% compound annual growth rate over a multi-year horizon.

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