Elon Musk’s Tesla is Going Private
Elon Musk, the chief executive of electric car manufacturer Tesla is taking the carmaker private at $420 per share. This move comes when the company is witnessing immense growth and financial constraints.
When the deal is implemented, it would take Tesla out of the glare of Wall Street but might limit its access to capital.
“There’s a lot of noise that surrounds a public company and people are constantly commenting on the share price and value,” Musk said. “Being public definitely increases the management overhead for any given enterprise.”
Taking Tesla Privatehttps://t.co/kw4eHOJfBh
— Tesla (@Tesla) August 7, 2018
Musk stated his plans of going private on Twitter and this shocked the investors and sent Tesla’s stock price soaring as much as 8.5 percent befo...