The Securities and Exchange Commission “sharks” have got to be tightening the circle a bit. That tweet about taking Tesla private at $420 a share seems very ill advised. Especially when Tesla bumpers are falling off of cars right out of the showroom.
(From Yahoo Finance)
Musk’s initial announcement via twitter on August 7 was met with exuberance among investors and traders, with the stock careening to a near-record high of $389 per share. But reports of an investigation and subpoena from the Securities and Exchange Commission, the US’ top stock regulator, and a slew of class action lawsuits by investors, quickly brought share prices back below $300.