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Below is the exact (unedited) email that was sent to the SEC by Mike Stathis on November 28, 2023. This email was written "on the fly" so it may not convey Mike's entire message and/or may not convey it in the detail he would prefer. Therefore, this email might serve as a primer for a more in-depth discussion in the future.

There are numerous examples of false statements having been made by Musk.

Because Musk is the CEO of Tesla, it's the SEC's job to find these statements/claims and execute successful proceedings leading to civil and perhaps even criminal penalties working with the DOJ.

So far, the SEC has failed (possibly intentionally) to hold Musk accountable for his 2018 tweets about taking TSLA private.

Musk’s tweets represented a clear violation of securities laws. These tweets helped Musk (illegally) extract billions of dollars from investors through his manipulation of TSLA’s share price. Yet, he was not held accountable for this fraud.

There is no way the SEC’s legal team can be so incompetent for this to happen, so I’m wondering how much money was paid out to SEC officials by liaisons of Musk.

I want to remind the SEC that in 2019, Elon Musk also profited to the tune of billions of dollars by claiming that Tesla owners could make $30,000/year by converting their EVs into robotaxis. This sent sales of Tesla soaring and subsequently led to a huge TSLA stock pump by Wall Street and fund managers, enabling Musk to add even more to his net worth. See here.

Given that Elon Musk's compensation is directly and primarily linked to TSLA’s stock price, and given the countless lies and misleading statements he has spread about TSLA to pump up the price of TSLA, the SEC needs to:

1) Charge Elon Musk with several counts of stock manipulation, resulting in the tens of billions of dollars in fines.

2) Work with the DOJ to indict Elon Musk on several counts of securities and other types of fraud due to false claims he made about self-driving (similar to Nikola).

I want it to be known that the SEC has helped to destroy capitalism through years of neglect and incompetence.

Although there are countless examples backing this claim, a few examples are worth mention.

Daily manipulation of securities as well as insider trading perpetrated by Wall Street and the financial media.
Massive fraud committed by private firms that pay for order flow.
Wall Street’s involvement with the illegal cryptocurrency industry, which along with paid order flow threatens the integrity of the capital markets.

As it stands today, capitalism is in severe crisis largely due to Wall Street and the various shenanigans that continue in the stock market to this day. By failing to appropriately supervise and successfully prosecute an army of criminals, the SEC has served as a significant factor in the formation of this crisis.

I am disgusted that my tax dollars are going to fund this pathetic and fraudulent government agency.

Mike Stathis

Managing Principal and Chief Investment Strategist

AVA Investment Analytics

avaresearch.com

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