Return from Elon Musk: Tesla is on the stock exchange
Electric luxury car maker Tesla’s billionaire Chief Executive Officer (CEO) Elon Musk decided to withdraw from the stock market. After Thursday’s meeting with Tesla’s board of directors, Musk returned from a decision to sell the company’s shares, which it announced on August 7, to withdraw from the stock market. Until today, the billionaire’s boss announced two weeks ago that Tesla’s shares lost 20 percent.
“I told the management board that the best step for Tesla was to stay on the stock exchange, and they accepted it,” Musk said on the company’s website.
“I knew it would be difficult to get out of the stock market,” Musk said in a written statement that he had decided to stay on the stock exchange, but it seems clear that it will be more uncomfortable and more time-consuming than initially anticipated.
72 billion dollars backward step
Billionaire Elon Musk announced that he would sell Tesla, an investor interested in 420 dollars per share, in order to remove Tesla from the narrow throat, who has recently suffered losses and is having trouble passing through serial production. Experts said the cost of such an initiative would be 72 billion dollars.
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
After Musk’s announcement, Saudi Arabian capital claimed to have bought Tesla’s 2 billion dollars share. The company’s board of directors announced that they had formed a committee to evaluate the proposals for stock removal from Musk. As the rumors of Saudi Arabia wanting to invest more in Tesla increased, the board noted that they did not face any concrete offer.
Musk’s Twitter conversations have been a big hit with the law. Some investors who thought that Musk gave misleading and misleading information to the market after Tesla’s share of withdrawal from the stock market acted to launch an investigation into the billionaire CEO to violate the federal securities law.