More Tesla tweet drama unfolds between Musk and the Securities and Exchange Commission. 

After investors thought that the Elon Musk "funding secured" tweet drama had come to an end, there is still one episode left that they need to take part in.

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A new dispute has broken out between Tesla (ticker: TSLA) and the Securities and Exchange Commission (SEC).

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On Aug. 7, 2018, Musk won a private securities fraud trial about the tweet. In essence, a jury found that Musk had not caused investors harm when he tweeted: "Am considering taking Tesla TSLA -4.01% private at $420. Funding secured," Musk tweeted on Aug. 7, 2018.

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Musk could have sat back and waited for the drama to end, but he tried to parlay that victory into upending a 2018 settlement reached between him and the SEC that required some tweets to be reviewed by a committee of Tesla board members.

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An appeals court ruled earlier this week that Musk's victory shouldn't have any impact on the process of reviewing tweets by the SEC.

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SEC and Tesla didn't respond to a request for comment immediately.

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In the original settlement, Musk had to pay $20 million, along with the board chairmanship, while the tweet review requirement was added as part of the settlement. There has been a lot of friction between him and the need to review tweets in recent months. As part of the March court filing, Musk requested that the requirement be removed from the review process. In its argument for keeping it in place, the SEC argued that it should be retained. This argument was won by the SEC in April of last year.

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Tesla's policies and procedures aren't completely clear throughout this process. There have been multiple documents exchanged between the agency and the company over the years about the review of various tweets that were sent out by the company. It has been claimed that the SEC is not doing enough to ensure that the level of oversight is high enough.

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It's a lot to keep in mind. In spite of all that, investors haven't paid much attention to all this so far. In mid-August, when Musk tweeted the now-famous "funding secured" line, Tesla stock was about $20 a share. Currently, the price of the shares is around $200. The tweet has been the subject of a lot of settlements, suits, trials, and challenges over the past few years.

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The stock is unlikely to be affected by the tweet drama in the near future. There is no doubt that Musk now owns Twitter and many Tesla investors would like him to name a new CEO so he can focus more on his car company as a whole. It will be the Twitter issue that will matter more in the long run for Tesla stock than anything else.

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The stock of Tesla fell 1.2% in premarket trading on Friday morning. As a result, the market was lower. There was a 0.7% loss in the S&P 500SPX -1.54% futures and a 0.9% loss in the Nasdaq CompositeCOMP -1.86% futures on Tuesday.

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At the time of Friday's trading, Tesla stock had fallen roughly 3% over the course of the week. There is a very good chance the shares will snap a six-week winning streak if they don't rally. At the beginning of the streak, the shares were selling for about $113 a piece.

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