Tesla rises as Musk's SEC settlement approved by United States judge

Tesla chief executive officer Elon Musk will purchase company stock worth $20 million in the next open trading session, the electric carmaker said in a filing on Wednesday.

The matter at hand was a single tweet sent by Musk in August which suggested that automaker Tesla may be taken private.

Musk also tweeted that the new chip would improve the performance of Tesla's Autopilot between 500 percent and 2000 percent.

"The resolution is meant to prevent further market disruption and harm to Tesla's shareholders", Peikin had also added.

He had been sued by the US Securities and Exchange Commission after a tweet in which he said he planned to take his company private.

Elon Musk first introduced the idea and the label earlier this year during a April Fools' Day prank. In addition, Musk must also step down as chairman of Tesla, although he will remain the company's CEO.

The complaint was filed after Musk and Tesla's board abruptly walked away from an agreement with the SEC.

More news: Watch The First Teaser For Disney's New Live-Action Aladdin Movie

"Just want to that the Shortseller Enrichment Commission is doing incredible work".

Musk replied to a Financial Times tweet without elaborating.

Musk, now Tesla's CEO, tweeted on Friday that a new branded tequila was in the works and has posted a placeholder label mockup for a Teslaquila bottle.

Musk and Tesla agreed to resolve the SEC probe without admitting or denying wrongdoing.

While Tuesday's rally is good news for Tesla shareholders, all eyes are now on Tesla's third-quarter earnings report, expected at the end of October.

But what really made the Twitter discussion productive was when someone asked Musk if he has watched "Neon Genesis Evangelion", an anime about psychologically disturbed teenagers piloting giant "mecha" robots.

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