Elon Musk says tweet at center of investor fraud case not my wisest'

"Investors in the class-action case have alleged that the world's richest person intentionally misled them when he tweeted that the deal was temporarily on hold while he investigated how much of the platform's traffic was driven by spam and fake accounts known as bots."

"In his testimony, Musk argued his statement was very different from walking away from the deal entirely. I'm not saying I'm not going to do the deal, he told the jury. At no point did I say the deal was canceled."

"Still, he acknowledged under questioning from a lawyer for the investors that the post was ill-advised. It may not be my wisest tweet, he said. I don't know if I would call it my stupidest. But if it led to this trial it probably qualifies as such."

"In the current trial, in which he is accused of instigating Twitter stock price moves that collectively wiped out billions of dollars in equity, Musk said he simply tweets what's on my mind and the market decides if it's material."

Elon Musk testified in federal court defending himself against claims he intentionally misled Twitter investors by tweeting that his acquisition deal was temporarily on hold while investigating bot accounts. Musk argued his statement differed from canceling the deal entirely and maintained he never said the deal was canceled. Under cross-examination, he acknowledged the tweet may not have been wise, stating it probably qualifies as one of his worst given it led to trial. Musk characterized his social media behavior as simply tweeting what's on his mind, suggesting the market determines materiality. He noted people read too much into his actions and described stock markets as emotionally volatile.

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