Tesla Tumbles As Broader SEC Inquiry Revealed

Bloomberg reports that the U.S. Securities and Exchange Commission is intensifying its scrutiny of Tesla's public statements in the wake of Elon Musk's tweet Tuesday about taking the electric-car company private. "funding secured."

Additionally, SEC enforcement attorneys in the San Francisco office were already gathering general information about Tesla’s public pronouncements on manufacturing goals and sales targets, according to the people who asked not to be named because the review is private.

All the gains from yesterday's exuberant tweet and headline-fest are gone.

Bloomberg notes that the SEC inquiry is preliminary and won’t necessarily lead to anything more formal.

Tesla still hasn’t disclosed any sources of financing for the deal and no one has stepped forward publicly to say they’re backing the plan.

Once again Tesla bonds were right first...

For some context as to just how large and unprecedented this 'deal' would be...

Infographic: Potential Tesla Buyout Would Be The Largest Ever | Statista

You will find more infographics at Statista

We notice Musk is a little quieter than normal on Twitter today...

 

Comments

NoPension yarpos Thu, 08/09/2018 - 19:59 Permalink

I want one now. 

Goes with the Tucker and the DeLorean.

Musk...A Man and His Dream.....

 

On a serious note. I’m 56, and have been in and out the Car game since 16. There are how many legitimate car companies...at least 30?

Ford..100+ years old. Stock just over $10? And this turd is what!? Albert Einstein and Nicholi Tesla couldn’t show the big boys how to do this. But this arrogant fuck thought he could jump in the game? He got stones, give him that. Best thing that could’ve happened would to be gobbled up by a legacy manufacturer. Now, they’ll just swoop in and pick the bones clean for 5cents on the dollar. 

In reply to by yarpos