Tesla wannabe is back in spotlight with shot at Saudi investment

21 August, 2018, 12:31 | Author: Conrad Doyle
  • Still shot from Electrify America's Jetstones TV

Musk tweeted on August 7 that he secured funding to take Tesla private at $420 a share, a move that sent Tesla stock skyrocketing.

The stock fell by as much as 6.7 per cent to a three-month low of $285 in morning trading in NY, some way off the $420-a-share take-private offer for which Mr Musk, the company's co-founder and chief executive, claimed to have secured funding this month.

The couple, who reportedly met on Twitter, flirted on the platform, and first made their relationship public at the Met Gala in May, have been a central figure of tech gossip in recent weeks as Musk's increasingly erratic behavior has caused confusion to Tesla investors and board members alike.

Last week, Musk gave some insight into the extremes of his work and personal life, detailing to the New York Times - at times crying and laughing - their tolls on his physical health and relationships. "It is not", Musk wrote in a tweet in response to Arianna Huffington, who in an open letter on Friday said Musk and the future of Tesla would be better off if he regularly built in time to "refuel" and "recharge". To make Tesla function as an auto manufacturer, Musk needs to bring in other operators "before he burns out or worse", wrote investment banker J. Christopher Whalen of Whalen Global Advisers.

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In researching this story, I went back into the CleanTechnica files and was surprised to find we had written barely a word about the company since July of a year ago when we reported a prototype of the Lucid Air sedan had achieved a top speed of 235 miles per hour.

Tesla closed up almost 1 per cent at US$308.44 in NY on Monday, after dropping as much as 5.7 per cent earlier in the day.

"Ford & Tesla are the only 2 American vehicle companies to avoid bankruptcy". He later said that meeting with Saudi Arabia's sovereign wealth fund had given him confidence to announce the news.

The company is now under investigation by the Securities and Exchange Commission, which had already been probing Tesla's order volume and revenue figures.

Sorry, José Mourinho, but City's documentary really isn't all about you
Mourinho also said Brighton's early goals had robbed United of their "confidence". "It's definitely not good enough", Pogba said. The Iranian global was the top scorer in the Eredivisie last season and enjoyed an impressive World Cup for Team Melli.

While Tesla has yet to sell its baseline $35,000 Model 3, relying on costlier models to sustain operations, Musk expressed the goal of ramping up production and lowering design and technology costs to reach a cost of $25,000.

While its prototype Lucid Air sedan has been well-received, it's unclear whether the company has the funding to get production going.

News of the Saudi PIF's interest in Lucid was one factor weighing on Tesla stock Monday.

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