Elon Musk considering taking Tesla private, TSLA stock trading halted

Adjust Comment Print

Tesla resumed trading on the Nasdaq exchange after a almost two-hour pause on Tuesday afternoon, shortly after the company confirmed in a blog post that CEO Elon Musk is considering taking the electric vehicle maker private at $420 per share.

The billionaire co-founder of the company took to Twitter on Tuesday afternoon to say he was "considering taking Tesla private at $420".

Musk said he had "funding secured" to take the all-electric automaker private at $420 a share, far above its current $360 stock price. They did come from Musk's verified Twitter account but it's possible that someone could have hacked the account and published the tweets to manipulate share value for personal gain.

It's highly unusual for the head of a major company make a significant announcement in such casual manner.

Musk said back in June the v9.0 would be the release to include the full self-driving features to make Teslas autonomous. CEO Elon Musk made the announcement via Twitter on Wednesday of the upcoming v9.0 update.

Musk also owns about 10 percent of Space X, which is valued at $25 billion and a large portion of The Boring Company, which analysts have said could reach $16 billion in value if it executes on current contracts.

Unsworth told AFP he had not reviewed the tweets in full and had only heard about them. I wanted to let you know my rationale for this, and why I think this is the best path forward.

Saudia suspends flights to Canada, escalating diplomatic spat
Her brother Mr Badawi was sentenced to 10 years in prison and 1,000 lashes for "insulting Islam" online back in 2014. His wife, Ensaf Haidar, lives in Canada and recently became a Canadian citizen.

Musk also denied giving donations to a political action committee dedicated to helping the Republicans maintain control of the house. But Musk isn't one to follow norms. But Musk is not a conventional CEO.

'I am not a top donor to any political party, ' he said.

A new version of Tesla's Autopilot is a month away. "His mission for Tesla (to accelerate the globe's adoption of sustainable energy) is both grand and long-term, making it hard to accommodate investors quarterly expectations".

One block of 714 Tesla call options, betting on the shares rising above $365 by the end of the week, were bought for 85 cents, for a total outlay of $60,690, at 12:21 p.m. EDT.

During Wednesday's earnings call, Tesla once against lost money in the quarter to the tune of $740 million.

The billionaire branded one industry analyst a "boring bonehead" during the weird session, saying another's "questions are so dry they are killing me".

Tesla shares were last up 7.4 percent at $367.25.