In his defense against a market manipulation lawsuit, Musk acknowledged the potential impact of his May 2022 tweet on Twitter's stock price, which led to significant losses for investors.
Elon Musk admitted that his May 2022 tweet about pausing the $44 billion Twitter acquisition may have been unwise, as it caused a 9% drop in Twitter shares. The lawsuit alleges that Musk's actions led to investor losses. The ongoing legal proceedings will examine whether Musk’s public statements were intended to manipulate Twitter's stock price.