Tesla shares fall after Elon Musk mocks SEC on Twitter

Tesla Owners Can Have Images Sent to Deep Space

Just days after settling with the Securities Exchange Commission, Tesla CEO Elon Musk took to Twitter to troll the SEC on Thursday. "And the name change is so on point!"

Musk also dragged BlackRock Inc. into his long-running dispute with short sellers, claiming that the fund manager was reaping heavy profits by lending shares they hold to this group of investors.

However, the next day, Tesla's attorneys were back at the SEC requesting them for a second chance, this time with Musk's "grudging approval", the paper said.

Musk's post came nearly a week after he reached a deal with the SEC to settle a lawsuit over tweets he posted August 7 when he said he had secured funding to take the electric auto company private at $420 a share, causing the company's stock to soar.

He also named dropped Tesla CEO Elon Musk, stating that we need to "leave him the f**k alone".

Elon Musk has hit out at the U.S. financial regulator just days after they reached a deal on fraud charges against him.

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The commission is asking the court for an order stopping him from making false and misleading statements along with repayment of any gains as well as civil penalties.

"In and of itself it's not an ominous sign", said Jordan Thomas, a partner at Labaton Sucharow and former SEC lawyer.

Saturday's settlement required Musk to step down as Tesla's chairman, appoint two new independent directors, and pay a $20 million fine.

On Thursday, Tesla shares fell 2.4% to $275 in after-hours trading.

West has tweeted several times about the need for "innovation" and new technology, and in 2011, he went to visit the SpaceX rocket factory with Musk.

While Musk wanted to fight the SEC, he reportedly had a change of heart when Tesla's stock plummeted almost 14 percent after the lawsuit was announced. But according to Recode's Teddy Schleifer, that requirement doesn't kick in for 90 days after signing, giving Musk a few more weeks of unfettered tweeting. Nathan must approve the settlement's terms. "This is just a hoop to be jumped through", he said.

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