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Tesla CEO Elon Musk just made two big announcements

By:
on Mar 28, 2022
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  • Elon Musk says he's considering building a new social media platform.
  • Tesla Inc wants to issue additional shares to pay a stock dividend.
  • Shares of the EV maker are up roughly 6.0% on Monday morning.

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Elon Musk is considering building a new social media platform that prioritizes freedom of speech, the chief executive of Tesla Inc (NASDAQ: TSLA) indicated in a recent Tweet.

Musk is disappointed in Twitter

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The billionaire’s comment arrives a day after he expressed disappointment in Twitter, which, he said, stood in the way of free speech.

Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?

Twitter is yet to officially respond. The founder of SpaceX is frustrated with the fact that the U.S. regulators scrutinize his tweets on the microblogging platform.

Tesla shares are up 6.0% on Monday

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Also on Monday, Tesla Inc shares are up 6.0% on reports that the EV maker wants to issue additional shares to pay a stock dividend. The proposal will be up for shareholders to vote on, at its annual meeting.

Commenting on the price action, Wedbush Securities’ Dan Ives said on CNBC’s “Squawk Box”:

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Investors will read this as management’s increased confidence in the business. They won’t do a stock split if they feel like things are super negative. So, a split could be a massive catalyst for the stock over the coming months.

Last week, Tesla officially launched its Berlin Gigafactory.  

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