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Elon Musk speaking at an event. Photo: Diego Donamaria/Getty Images

Elon Musk has been active on Twitter over the last week and has twice tweeted out misinformation about Tesla and its financial state.

Why it matters: Tesla was already under the microscope following a subpar second quarter, and Musk's latest tweets are not relieving any pressure for the company. Since sending the tweets, he has been charged with securities fraud in a class-action lawsuit and continues to be investigated by federal securities regulators.

The backdrop: Last week, Musk tweeted he was thinking of taking Tesla private and already had the funding secured — while sharing very little details with his shareholders, employees or the media.

A tweet previously embedded here has been deleted or was tweeted from an account that has been suspended or deleted.
  • Musk later admitted the funding he claimed was secured was based off of an interest from a Saudi sovereign wealth fund and was not yet official.
  • His tweet resulted in a class-action lawsuit being filed against Musk on behalf of Tesla shareholders, charging him with securities fraud.

On Tuesday, Musk tweeted factually incorrect information saying he was "excited" to work with Goldman Sachs and Silver Lake as financial advisors for Tesla, when neither one officially signed an agreement with Musk to do so.

  • It was previously reported at Bloomberg and the Wall Street Journal that Tesla and Goldman Sachs were in negotiations, but nothing was made official.

The big picture: Some have questioned Tesla's financial standing in recent months because of slow sales for the Model 3 car Musk promised consumers. The company also had a lackluster 2nd quarter, which caused Musk to consider going private.

Go deeper

Officials warn 5 key tech sectors will determine whether China overtakes U.S.

Illustration: Aïda Amer/Axios

U.S. intelligence officials responsible for protecting advanced technologies have narrowed their focus to five key sectors: artificial intelligence, quantum computing, biotechnology, semiconductors and autonomous systems.

Why it matters: China and Russia are employing a variety of legal and illegal methods to undermine and overtake U.S. dominance in these critical industries, officials warned in a new paper. Their success will determine "whether America remains the world’s leading superpower or is eclipsed by strategic competitors."

4 hours ago - Health

Pfizer says COVID vaccine over 90% effective in kids

Photo: Michael M. Santiago/Getty Images

Pfizer and BioNTech said their COVID-19 vaccine was more than 90% effective at protecting children between the ages of 5 and 11 from symptomatic infections from the virus, according to a study posted online by the FDA Friday.

Why it matters: Pfizer is seeking an emergency use authorization to vaccinate children — one of the last groups of Americans still largely ineligible to receive a coronavirus vaccine.

Changing the inflation conversation

Illustration: Annelise Capossela/Axios

Inflation looks like it’ll run hot for longer than plenty of smart people thought it would. The conversation over just how much more Americans will have to pay for their stuff has taken on a new intensity, as supply problems show few signs of fading.

Why it matters: The rate of price growth has remained consistently strong in recent months — a time that some thought would bring cooling prices after an initial reopening spike. What goes on with prices will influence the decisions made by Congress, the Biden Administration, and the Federal Reserve.