Illustration: Sarah Grillo/Axios
The Securities and Exchange Commission has asked Tesla for information related to CEO Elon Musk's tweets about taking the company private, according to The Wall Street Journal.
Why it matters: Musk tweeted "funding secured" for a possible $420 per share bid, but there has been lots of skepticism because he hasn't yet identified any participating investors. The SEC reportedly wants to know if the statement was factual. If it wasn't, he could be subject to accusations of market manipulation.
Go deeper: Toying with taking Tesla private