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Tesla’s Elon Musk Tweets He May Take Company Private

Published 08/07/2018, 01:09 PM
© Reuters. Tesla CEO Elon Musk considering taking company private.

Investing.com – Tesla (NASDAQ:TSLA) shares jumped in afternoon trading after CEO Elon Musk tweeted that he is considering taking his company private at $420 per share.

Tesla stock rose 6.75% at 1:10 PM ET (17:10 GMT), shortly after the message was sent on Twitter.

"Am considering taking Tesla private at $420," Musk wrote. "Funding secured."

Musk has had a contentious relationship with Wall Street, especially short-sellers and analysts covering the company.

His tone seemed to soften a bit, though, on Tesla’s earnings call last week.

The outspoken Musk, who told analysts last quarter that he refused to answer their "boring" questions, apologized multiple times for his past behavior and sounded upbeat on the company's future.

Tesla's shares were already higher on a report that Saudi Arabia's sovereign wealth fund had taken a stake in the company. The Saudi Public Investment Fund has a 3% to 5% stake, which was built up this year, according to the Financial Times.

Latest comments

Elon Musk may face ********charges. he KILLED the shorts. *** NOTE: it's a joke, please don't sue me :-)))
no clue why, thinking why Warren Buffet delivers true value to his shareholders since decades and never was part of such circus like events. bottom line, if the story is true than TSLA shareholders get good deal. if not true, Mr. Musk just ended his relationship with TSLA and probably to get sued.
What if somebody has Tesla shares and the company goes private . What's gonna happen to those shares ?
As told by musk his bid is for 420$ If someone is unwilling then musk cannot buy from him Usually exchanges list stocks that have substantial amount of shares owned by retail, fund houses etc If they breach those limits persons shares might get auto sold as delisting happened
He said @$ 420 per share
Gimme $400+ eac
This doesn’t seem legal.
It depends on how he timed his trades. As long as he didn't buy up a bunch, then announce that, he is safe. Look up insider buying vs insider trading
 He basically did the same thing a short while ago when he said the shorts will be destroyed within a couple of weeks. Lo and behold.... It's probably better all round if he goes private.
why? what's illegal if the details are true? IF not true, Musk to get grilled.
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