The Big Story In a Nutshell: Tesla (Nasdaq: TSLA)
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Posted On: 08/08/2018 9:55:55 AM
The Big Story
In a Nutshell: Tesla (Nasdaq: TSLA) CEO Elon Musk tweeted yesterday afternoon that he was considering to take the company private at $420/share and had the financing in place to do so. Trading was halted in the stock shortly after Musk’s tweet, but not before shares of the company jumped 7.3% to $367/share. The company then released a copy of an email that Musk sent to Tesla employees, explaining the benefits he saw of taking the company private.
The Payoff: For investors, it comes down to what camp you are in. Tesla bulls believe the deal will happen and the share price will climb. The bears think it is stock manipulation, and after the email gave no details on the source of the funding Musk alluded to, that is was just an attempt to burn the short sellers. It’s the most entertaining story on Wall Street.
In a Nutshell: Tesla (Nasdaq: TSLA) CEO Elon Musk tweeted yesterday afternoon that he was considering to take the company private at $420/share and had the financing in place to do so. Trading was halted in the stock shortly after Musk’s tweet, but not before shares of the company jumped 7.3% to $367/share. The company then released a copy of an email that Musk sent to Tesla employees, explaining the benefits he saw of taking the company private.
The Payoff: For investors, it comes down to what camp you are in. Tesla bulls believe the deal will happen and the share price will climb. The bears think it is stock manipulation, and after the email gave no details on the source of the funding Musk alluded to, that is was just an attempt to burn the short sellers. It’s the most entertaining story on Wall Street.
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