On Wednesday, billionaire entrepreneur Elon Musk returned to the witness stand for a third day of testimony in a lawsuit brought by Tesla investors alleging that he misled them with tweets about taking the electric carmaker private.
Musk was questioned about his decision to post the tweets, which sent Tesla’s stock soaring but ultimately resulted in the company remaining public. Musk has argued that the tweets were not meant to be taken literally and that they were “aspirational goals” that he thought could be accomplished.
The investors have argued that Musk manipulated the market by tweeting without having a firm financing plan in place.
Musk testified that he was “desperate” to take the company private because he wanted to focus on Tesla’s long-term goals without being distracted by the “enormous pressure” of being a publicly traded company.
The trial is expected to continue for several more days, with closing arguments scheduled for next week.