Private companies take on the gravity of the Tesla, however there are no decisions made yet
Tuesday, August 7, 2018
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"Is considering taking Tesla personal on $420. Financing secured, "Musk said in a Tweet shortly before 13:00 Musk plans are discussed further in a later blog posting Tuesday.
From there the Musk tweeted a few times. Answers to questions on Twitter, Musk said he would ensure prosperity "shareholders in any scenario. "If Tesla went private, while investors can maintain their interest in Tesla through a special fund, or sell their stock in the $420, he said.
Stocks jump after Musk and Tweet first, trading as high as $371.15 before giving back the gains. Then the stock was halted for more than an hour. When reopened shares surged more than 10 percent.
Tesla shares traded higher on reports that the Organization of the new sovereign wealth funds in Saudi Arabia.
Last year, Tesla shares were listed as low as $244.59 in April and a high of $389.61 in September.
Tesla went public in 2010. Current market value was $61 billion. At the price of $420 shares, the company would be worth $71.3 billion.
Although Musk is mentioned in his initial tweet, blog post from Tesla did not include any mention of the financing. CNBC also contacted several Wall Street banks and none of them were aware of any transaction or have committed to financing the LEVERAGED BUYOUT that made to Tesla.
Securities and Exchange Commission also declined to comment on the issue. However, the company is allowed to use social media channels such as Facebook and Twitter to announce the news, the SEC said in the year 2013.
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