Tesla is now worth less than it was before Elon Musk’s $420 tweet (TSLA)

markets.businessinsider.com | 8/9/2018 | Staff
iceyy (Posted by) Level 3
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Tesla surged more than 10% Tuesday after Elon Musk said he was considering taking the company private.

However a lack of more information and a reported investigation by federal regulators have wiped out the gains.

Follow - Tesla - Stock - Price - Real-time

Follow Tesla's stock price in real-time here.

Shares of Tesla have rolled over and given up their more than 10% gains from Tuesday when CEO Elon Musk tweeted that he was considering taking the company private at $420 share.

Stock - % - Thursday - Musk - Tweet

The stock declined more than 6% Thursday, falling as low as $346.49. When Musk’s cryptic tweet sent shockwaves through markets at 12:48 p.m. ET on Tuesday, the stock was worth $358.

Musk said funding was secured, but offered no details as to which investor may be willing to cough up the billions needed to take Tesla off public stock exchanges. Those lingering questions, paired with a report from The Wall Street Journal on Wednesday that said the Securities and Exchange Commission (SEC) was investigating the tweet, only further dragged down the price.

Bloomberg - Thursday - Afternoon - Paper - Report

Bloomberg on Thursday afternoon conformed the paper’s report, and said...
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