Tesla: Elon Musk stops stock market retreat

Tesla founder Musk does not want to privatize his company now. The group's shareholders would have persuaded him to make the decision, he said.

Tesla: Elon Musk stops stock market retreat

Tesla chief Elon Musk has adopted a Elektrowagenbauers of thoughts on a stock exchange retreat. He told boards, " better way for Tesla to stay on stock exchange," Musk wrote in a blog post. The board members indicated that y agreed to this.

His decision is based on feedback from shareholders. Investors would have persuaded him not to lead Tesla into privatization. For example, institutional investors would have said that internal regulations limited ir scope for manoeuvre.

He also discussed all options with investment companies Goldman Sachs, Morgan Stanley and Silver Lake, Musk wrote in his statement. "Given feedback I received, it is obvious that most Tesla shareholders believe that we are better off as a listed company." At same time, "this process" has strengned its acceptance that re is more than enough funding for a privatisation of Tesla.

Stock Exchange supervision examines charges of price manipulation

On August 7th, Musk had announced via Twitter to consider a stock market retreat at a stock price of 420 dollars. The step could take pressure from company to regularly deliver quarterly figures was justification of Musk. In addition, head of group at that time said that financing to buy all Tesla shares of shareholders who would be ready to repel papers was already secured.

After his tweet, Tesla share gained eleven percent and made it to create investors who had set a decline in securities. Since n, share went down again. There are also two complaints from investors who accuse Musk of having violated law with his tweet.

The US stock Exchange supervision also made pressure: according to media reports, Tesla board sent a subpoena a few days after announcement Musks to find out more details about now withdrawn stock exchange. The Stock Exchange supervisors also checked wher Musk tried to manipulate stock price with his actions.

Updated Date: 26 August 2018, 12:00

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