Tesla sinks after Elon Musk offers details about his 'funding secured' tweet (TSLA)
Kiichiro Sato/AP
- Tesla CEO Elon Musk wrote in a blog post Monday that he left a meeting on July 31 with "no question that a deal with the Saudi sovereign fund could be closed."
- The blog post offers new details into Tesla's plan to go private at $420 per share, which the billionaire announced last week, saying funding had been secured.
- Shares initially surged to an all-time high, before wiping out all their gains as lawyers said the tweet may have broken securities laws and reports of the SEC investigating.
- Follow Tesla's stock price in real-time here.
Shares of Tesla sank about 0.8% Monday, after initially surging 3% in early trading, after CEO Elon Musk published an update on his plans to take the company private at $420 a share.
Despite tweeting on Tuesday that funding had been secured, Musk’s newest blog post appears to contradict that claim. See the rest of the story at Business Insider
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