Translate

Search This Blog

Search Tool




Aug 8, 2018

SEC looks into Musk's taking-Tesla-private tweets: WSJ I MarketWatch.


Claudia Assis


The U.S. Securities and Exchange Commission has made inquiries to Tesla Inc TSLA, -2.43% over Elon Musk's going-private tweet, including examining whether the chief executive's statement was factual and why the disclosure was made on Twitter rather than on a filing, according to aWall Street Journal report that cited sources familiar with the matter. Musk stunned markets Tuesday, tweeting he was "considering" taking Tesla private at $420, adding that funding was "secured." The company later posted on its website an email to employees from Musk expanding on the idea. Tesla shares rallied 11% on Tuesday, but lost 2.4% Wednesday asWall Street faulted the plan for being lean on funding details.