Tesla shares plunged as far as 8 percent before 11 a.m. Monday—and 18 percent overall since the week-long Musk saga sparked by his fateful privatization tweet. The drama began on August 7, when Musk stunned the markets by tweeting about his plans to take the company private, and announcing that he had “funding secured” for the deal. The tweets caused Tesla’s stock to soar—but they also sparked an investigation by the Securities and Exchange Commission, which is now examining whether Musk’s claim that funding was “secured” was factual. And as The Wall Street Journal reported yesterday, that’s not the only probe Musk is facing from the SEC: Investigators have also been looking into whether Tesla misled investors regarding production problems with the Model 3. This controversy culminated in an emotional interview, published last night by The New York Times, in which Musk opened up about his “excruciating” year and reportedly fought back tears while explaining the toll his job has taken on his personal life.
TOP 10 RIGHT NOW
SHOP WITH SCOUTED