Yesterday at TechCrunch Disrupt, Jina Choi, the longtime head of the SEC’s San Francisco unit, declined to confirm that her agency is investigating Tesla CEO Elon Musk for his now infamous tweet about securing funding for a take-private maneuver. Choi did pull back the curtain substantially with regard to how the agency — which has […]
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What in the fresh hell is going on at Tesla?
About 20 miles due west of Reno sits the monumental Tesla Gigafactory. Construction started on the now almost 5-million-square-foot building in 2014, with the goal of creating, on a massive scale, the batt…
Sure looks like the SEC is investigating Elon Musk’s ‘funding secured’ tweet
The tweet may have become a meme, but the U.S. Securities and Exchange Commission isn’t laughing at Elon Musk’s tweet about taking Tesla private.
The electric car company CEO blurted out on Twitter last week that he plans to buy back Tesla from share…
The SEC is looking into Musk’s ‘going private’ tweet, report claims
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Well, this didn’t take long.
According to a report by the Wall Street Journal, the U.S. Securities and Exchange Commission (SEC) is looking into Tesla CEO Elon Musk’s recent tweets, in which he announced that Tesla is looking to go private.
The report, which cites people familiar with the matter, claims that the SEC is particularly interested in whether Musk’s tweet was based on facts at the time of publishing.
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
On Tuesday, Musk tweeted that he’s “considering” taking the company private at the stock price of $420, roughly 20% above its trading price at the time and valuing the company at over $70 billion. He also tweeted that funding is “secured” and that investor support is “confirmed.” The tweet sent the company’s stock price soaring 11% before trading was briefly halted. Read more…
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