Elon Musk Tweeted: The Fundamental Principle Of ITAR (International Traffic in Arms Regulations) Law Is US Companies Who Have Advanced Weapons Technology, Such As Rockets With Intercontinental Range, Must Hire People Who Are Permanent American Residents
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Elon Musk, CEO of SpaceX, tweeted about the International Traffic in Arms Regulations (ITAR) law, stating that US companies with advanced weapons technology, such as rockets with intercontinental range, must hire people who are permanent American residents.
August 25, 2023 | 9:34 am
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The tweet by Elon Musk, CEO of SpaceX, about ITAR law could impact other space companies like Virgin Galactic (SPCE) as they also deal with advanced technology and may need to adjust their hiring practices.
While the tweet is from SpaceX's CEO, it pertains to all US companies dealing with advanced weapons technology. This includes Virgin Galactic, which may need to adjust its hiring practices to comply with ITAR law. However, the direct impact on the company's stock price is uncertain.
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