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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