Investor's Corner
Tesla’s Elon Musk defended by fellow billionaire Mark Cuban amid ongoing SEC row
Elon Musk is getting support from fellow billionaire Mark Cuban, who recently took to Twitter to defend the CEO amidst his current issues with the Securities and Exchange Commission (SEC). Cuban, who has also butted heads with the SEC in the past, argued that the agency’s guidelines leave much to be desired, making it tricky to even know what an executive is allowed or not allowed to do.
“The thing is, if (the) SEC really cared about reducing fraud they would publish bright-line guidelines that any business person could find and understand. Then there would be no excuses. Fraud would be fraud. Instead, they create regulations via litigation,” Cuban stated on Twitter.
To illustrate his point, the billionaire investor and owner of the Dallas Mavericks pointed to his own experience with the agency. According to Cuban, he once called the SEC to inquire about its regulations, and the agency literally directed him to a letter from 1980 instructing him to fax eight copies of his question, after which it would attempt to address his concerns. Cuban posted a video of his conversation with the SEC, which he shared on YouTube.
The billionaire concluded that “if they really wanted to prevent fraud, they would publish every guideline they use internally, with the obvious disclaimers. They would push for real laws to be passed so that real penalties could be put in place.” Instead, Cuban noted, what happens is something that is a lot closer to comedy.
Cuban’s defense of Musk was a response to law professor Dan Ravicher, who condemned Musk’s against the SEC on Twitter. Ravicher, who recently stated on Twitter that “Tesla doesn’t sell cars, it sells promises of selling cars,” has a short position on the electric car maker, admitting on March 11 that he is “deep in April $TSLA 280/250 debit put spreads.”
Elon Musk’s latest row with the SEC came as a result of his tweets last February 19, when he noted on Twitter that Tesla would make around 500,000 cars in 2019. The statement echoed one of his statements from the first quarter earnings call when he estimated that Tesla could produce “maybe in the order of 350,000 to 500,000 Model 3s” this year. A few hours after his initial tweet, Musk clarified his statement, noting that the figures he quoted refer to the annualized production rate of 10,000 vehicles a week and that deliveries for 2019 are still estimated to be about 400,000.
The SEC immediately jumped on Elon Musk’s tweet, asking a judge to hold the CEO in contempt for violating the terms of his settlement with the agency following last year’s “funding secured” fiasco. Musk’s lawyers have since taken a firm stance against the SEC’s claims, noting in a response that “this contempt action, following Musk’s sincerely-held criticism of the SEC on 60 Minutes, also reflects concerning and unprecedented overreach on the part of the SEC.”
Watch Mark Cuban’s inquiry session with the SEC in the video below.
Elon Musk
SpaceX Starship Flight 13 aborted at Zero and Musk just told us what broke
Four Raptor engines failed to ignite at T-zero, forcing SpaceX to scrub Starship Flight 13 Thursday.
SpaceX scrubbed the Starship Flight 13 launch attempt Thursday evening at the last possible moment, after four of the Super Heavy booster’s 33 Raptor 3 engines failed to ignite during the startup sequence. The 90-minute window had opened at 6:45 p.m. EDT from Starbase in Boca Chica, Texas, and the countdown had proceeded without issue all day, with more than 11.5 million pounds of liquid methane and liquid oxygen being fully loaded into the rocket before the automated abort triggered. SpaceX’s launch directors posted on X, “Standing down from today’s flight test attempt,” and shut down the livestream shortly after.
Musk confirmed the root cause within hours. “Some of the engines didn’t start, triggering an automatic launch abort,” he wrote on X. “To be confident of a good flight, 2 Raptors will be removed and replaced. Most probable launch timing is early next week.” SpaceX engineers began draining propellant tanks immediately and Booster 20 was rolled back to its hangar for inspection.
The timing adds a layer of significance that did not exist during any of the previous 12 Starship flights. This is the first time SpaceX has attempted to launch Starship since the company made its stock market debut in June, listing under ticker SPCX at $135 per share. Public investors are now watching every Starship outcome in real time, and a last-second abort carries more visibility than it would have six months ago.
Flight 13 was designed to be one of the most consequential tests in the program’s history. It was set to carry 20 Starlink V3 satellites, the first operational payload Starship has ever attempted to deploy. Six of those satellites carried external cameras to photograph Starship’s heat shield from the outside during flight, which would act as a self-inspection approach SpaceX has never attempted before. The mission also needed to complete a Raptor engine relight in space, a step SpaceX skipped on Flight 12 in May after losing an engine during ascent. That Flight 12 booster also flipped 90 degrees off course during its boostback burn when five engines failed to reignite.
SpaceX has not announced an official next launch date. Musk’s “early next week” window points to July 21 or 22 at the earliest, pending the engine swap and a return to the pad.
Lucid CEO Silvio Napoli responded to rumors of an imminent bankruptcy that was reportedly being mulled after a report stated the automaker was working with the firm AlixPartners to iron out its next steps.
The company felt a massive loss on Wall Street yesterday, as the report essentially pushed the stock down as much as 55 percent on Tuesday.
The report, published initially by Eletric-Vehicles.com, claimed Lucid was essentially in dire straits and was told by AlixPartners, a commonly used restructuring advisor, to either take shares private or file for Chapter 11 bankruptcy protection.
Lucid’s head of Communications, Nick Twork, immediately challenged the report and stated the company “has sufficient liquidity to carry its operations well into next year.”
Now, the company’s CEO is chiming in as well, stating that the report is “so far from the facts that they require a direct response.”
Napoli said:
“Lucid is not considering bankruptcy or a transaction to take the company private. Those reports are false. The Board did not explore either scenario. Period.
As disclosed in our most recent quarterly filing, Lucid has sufficient liquidity to fund its operations well into next year.
We work with outside advisors to improve operational performance and execution. They are not advising Lucid on a take-private transaction or bankruptcy, and any suggestion that they have recommended either course of action to management or the Board is false.
My priority is clear: turn this company around. That is where the leadership team and I are focused.
I look forward to providing a full update during our quarterly earnings call on August 4th.”
🚨 Lucid CEO Silvio Napoli calls rumors of financial issues “so far from the facts that they require a direct response.”
Read his full remarks here: https://t.co/t3Pg1NHvzy pic.twitter.com/LvHUPhO4Qf
— TESLARATI (@Teslarati) July 15, 2026
It seems pretty clear that Lucid is confident things will be okay, and, to be honest, they should not have much to worry about, especially considering the company has been backed by the Saudi Public Investment Fund (PIF) for years. It has solid financial backing, and its sales, while weak, are pretty much right on par with a company of this age.
Lucid also sent a Cease & Desist letter to the publication for their report.
Lucid shares have rebounded nicely and are up nearly 21 percent at the time of publication. As soon as the company dispelled the rumors of bankruptcy yesterday, the stock began to climb back toward more reasonable levels.
Electric vehicle maker Lucid Group has denied rumors of an imminent bankruptcy after a report from this morning sent the stock on a dramatic drop on Wall Street, seeing losses of more than 40 percent during trading hours.
Lucid’s Director of Communications, Nick Twork, responded to the report from Eletric-Vehicles.com, which stated the company’s restructuring advisor, AlixPartners, was asked to review two decisions: taking Lucid shares private or filing for Chapter 11 bankruptcy protection.
The report also claims AlixPartners told the Lucid board to “concentrate on Gravity production while improving its quality, and to temporarily hold back the Lucid Air, the sedan that has defined the company since its launch.”
Twork said:
$LCID The rumors are completely false. The company has sufficient liquidity to carry its operations well into next year, as recently published in its last quarterly filings, and it has not formed any special Board committee to explore the scenarios reported today. Our focus is…
— Nick Twork (@ntwork) July 14, 2026
Shares rebounded after the response to the report, halving its losses as the trading day neared 3 p.m. Eastern.
Lucid has struggled to get its sales off the ground and into more respectable numbers, but the company is in its early years, when things are hard to begin with. It is also backed by several notable investors, including the Saudi Public Investment Fund (PIF), which has nearly limitless money and likely would not ditch an investment of this size so soon.
Lucid shares were down just 14 percent at the time of publication, a far cry from the 55 percent its losses topped out at during the day.
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