*By Carlo Versano*
Shares of Tesla jumped more than 15 percent in the pre-market Monday on news that CEO Elon Musk settled a lawsuit with the SEC over Musk's social media use.
Under the terms of the settlement, Musk will step down as chairman of Tesla ($TSLA) for at least three years but can remain in the chief executive role. He and the company must each pay $20 million in fines. Two independent board members will also be appointed.
Federal regulators sued Musk last week, arguing that his infamous Aug. 7 "funding secured" tweet amounted to securities fraud. The lawsuit was filed after Musk reportedly scuttled a last-minute deal with the agency under which he would resign as chairman and pay a fine but not admit to any wrongdoing. Talks restarted soon after, and by Saturday a new settlement was in place.
The settlement takes care of one major headache for investors, who will now look to the car maker's third-quarter production and delivery numbers, which may be reported as early as Monday. Musk [reportedly] (https://www.cnbc.com/2018/09/30/elon-musk-tells-tesla-to-ignore-distractions-hints-at-profitability.html) emailed employees over the weekend, telling them to "ignore all distractions" and that the company was approaching profitability.
In the David and Goliath saga that has been captivating and confusing Wall Street recently, Goliath has fallen.
Washington Mystics forward Aerial Powers spoke to Cheddar about championing women in the world of video games and esports.
Easily track health stats like hydration and body composition through this smart strap and accompanying app.
Fort Collins, Colorado Mayor Wade Troxell, a member of the FAA drone advisory committee, spoke with Cheddar about how the recently implemented rules will affect the use of drones going forward.
The highly-rated bundle includes 220 lessons designed by Certified Ableton Instructor J. Allen for a proper education on one of the industry’s most important tools.
Jeremy King, senior vice president of engineering at Pinterest, joined Cheddar to talk about the augmented reality tools the social media platform is utilizing to improve e-commerce experiences for users.
Following Virgin Orbit's successful launch of satellites using its novel air launch system, CEO Dan Hart spoke with Cheddar about the future of space travel using this method.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
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Telehealth company Hims & Hers is making its stock market debut after completing a merger with special purpose acquisition vehicle Oaktree Acquisition Corp.
