Musk tells jury 'people read too much' into his posts

"I was simply speaking my mind. People tend to read too much into things that I do. Musk said posts he wrote after he had struck a deal to buy the platform were "extremely literal" and not intended to try to reduce the price he would have to pay, defending himself against investor claims of market manipulation through misleading social media messages."

"Brian Belgrave, who is leading the class of individual investors suing Musk, told the court on Monday that he sold thousands of Twitter shares in July 2022, believing that Musk was no longer going to buy the platform. Belgrave's sale price was less than what he'd purchased the shares for a few months earlier, and significantly less than the $54.20 per share Musk eventually paid."

Elon Musk testified in a California trial that stock market investors overanalyze his social media posts. Investors have sued him, claiming he attempted to manipulate markets through misleading messages before purchasing Twitter in 2022. Musk stated his posts were "extremely literal" and not designed to reduce the purchase price, asserting he was simply expressing his thoughts. The trial, expected to last three weeks, marks the first lawsuit over the Twitter acquisition to reach trial. Investor Brian Belgrave claimed he sold Twitter shares in July 2022 after believing Musk would abandon the deal, resulting in significant financial losses compared to the eventual $54.20 per-share price Musk paid. Investors seek unspecified monetary damages from Musk.

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