Well, here's the tweet...
There was nearly a 3 hour delay, in which Tesla shares were halted, before the company put out a statement. Here's what we said over that time period...
And then Tesla released its statement (an email from Musk to Tesla employees):
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"Earlier today, I announced that I’m considering taking Tesla private at a price of $420/share. I wanted to let you know my rationale for this, and why I think this is the best path forward." |
And here's our response to Musk's verbally approved funding...
Speculation about what happens next for Tesla ran rampant as the Financial Times broke a story about Saudi Arabia’s Public Investment Fund building "a stake of 3-5 per cent this year, putting it among Tesla’s largest investors. At Tesla’s current share price, the Saudi position is worth $1.7bn-$2.9bn." This makes the PIF one of Tesla’s eight biggest shareholders.
By the way, here's Hedgeye Industrials analyst Jay Van Sciver's #timestamp on adding Tesla as a Best Ideas short...
