Wednesday, 8 August 2018

Elon Musk Tweets Plans to Take Tesla Private.

Tesla CEO Elon Musk has tweeted plans to take the electric car company off the stock market. Morningstar equity analysts say the unusual announcement may be a direct dig at short-sellers, who have caused the stock to be volatile in the past.

In a tweet posted yesterday Musk said: "Am considering taking Tesla private at $420. Funding Secured".

He shared details of a recent letter sent to all Tesla employees that as a public company "we are subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla, all of whom are shareholders".

By Morningstar UK.
Full story at Yahoo News.

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