Elon Musk on taking Tesla private: ‘That ship has sailed’

TechCrunch | 4/24/2019 | Staff
iVchan (Posted by) Level 3
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Elon Musk would prefer if Tesla, which is known for its volatile share price and is among the most heavily shorted stock, were a private company, but acknowledged during an earnings call Wednesday that it wasn’t likely.

Musk can dream, can’t he?

Ship - Musk - Response - Question - Morgan

“Unfortunately that ship had sailed,” Musk said flatly, in response to a question from Morgan Stanley analyst Adam Jonas.

Musk said Tesla as a public company was a distraction at times and then added “I’m not sure what to do about it.”

Question - Number - Investors - Shorts - Bet

The question came up as an increasing number investors, known as shorts, bet that Tesla’s stock will decline. The stock is one of the largest automotive shorts globally, according to S3 Partners.

Taking the company private, a status in which Musk’s other company SpaceX remains, is a sore spot for the billionaire entrepreneur. And one that has caused legal woes and disrupted the stock price.

Musk - August - Tesla - Funding - Tesla

Musk famously tweeted in August 2018 that he was considering taking Tesla private and had “funding secured. Tesla has published an email Musk sent to employees described his rationale, only to back track a few weeks later and announce the company would remain public. That tweet got the attention of the U.S. Securities and Exchange Commission, which later accused Musk of securities fraud. The parties...
(Excerpt) Read more at: TechCrunch
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