Article 3WBYJ Tesla shares soar after Elon Musk floats plan to take company private

Tesla shares soar after Elon Musk floats plan to take company private

by
Rob Davies and Edward Helmore
from Technology | The Guardian on (#3WBYJ)

Musk tweets plan as it emerges Saudi Arabia has built up $2.9bn stake in tech giant

Elon Musk has launched a campaign to take Tesla private on a day that included several provocative tweets, a suspension (and resumption) of trading in the company's shares, reports of a significant Saudi investment, a surge in stock price, and an evocative, Musk-tinged appeal to the Tesla faithful: "The future is very bright and we'll keep fighting to achieve our mission."

The ride started with Tesla's stock rising more than 7% after Musk tweeted he was "considering taking Tesla private" and had funding in place to do so at a price of $420 (325) per share. Shortly afterwards, Tesla published a blogpost written by Musk entitled 'Taking Tesla private' that had been sent to all employees.

Continue reading...
External Content
Source RSS or Atom Feed
Feed Location http://www.theguardian.com/technology/rss
Feed Title Technology | The Guardian
Feed Link https://www.theguardian.com/us/technology
Feed Copyright Guardian News and Media Limited or its affiliated companies. All rights reserved. 2024
Reply 0 comments