Elon Musk tweets "wanna buy some bitcoin?" and gets blocked by Twitter

Elon Musk tweets

Elon Musk tweets "wanna buy some bitcoin?" and gets blocked by Twitter

Tesla Inc's shares rose almost 7 percent on Tuesday, after long-time critic and short-seller Citron Research reversed its opinion on the stock to "long" from "short".

The firm said in a research note that Tesla's Model 3 sedan is a "proven hit" and serious competition from other automakers for the plug-in vehicle market has not materialized, marking a sharp reversal from its previous stance. Indeed, it is estimated that his tweet that originally drew the SEC's attention ultimately led a Tesla share price loss of more than 10 percent in the space of just one day.

"Rumours of the Tesla killers have been as constant and unfounded as Bob Lutz's call for Tesla's bankruptcy", said Citron Research, founded by activist short-seller Andrew Left.

"While the media has been focused on Elon Musk's eccentric, outlandish and at times offensive behavior, it has failed to notice the legitimate disruption of the auto industry that is now being dominated by Tesla", Citron said, adding that it was not withdrawing its lawsuit against Musk and Tesla.

Tesla will release third-quarter earnings after the market close on Wednesday, a week earlier than it has typically reported.

Musk has had his fair share of crypto news from twitter in 2018 and it appears he is warming up to crypto following the adoption of crypto payments on Musk's The Boring Company website.

Twitter took the unusual step of locking Elon Musk's account yesterday after the billionaire Space X and Tesla founder posted a lighthearted tweet asking a follower if they would like to buy bitcoin.

"The Shortseller Enrichment Commission is doing incredible work".

Over the past few months, Musk has faced a series of controversies linked to his activity on Twitter.

Short-sellers are investors who bet that shares will fall and are frequently the subject of Mr Musk's derision.

The SEC filed a lawsuit on September 27 charging fraud and seeking to bar Musk from serving as an executive at any public company.

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