Business News

Elon Musk is going to invest in Tesla

Now one share of Tesla is worth a little more $277

Tesla founder Elon Musk intends to buy shares in company for $20 million it is reported by CNBC, citing a statement by the Director General of the Commission on securities and stock exchanges of the USA.

According to the platform for trading MarketWatch, now one share Tesla is worth a little more $277. Musk plans to buy shares “in the next open trading window at the current market price.”

  • Earlier snowfall of Tesla Elon Musk has agreed to pay a fine in the amount of 20 million dollars, and also to leave the post of Chairman of the Board of Directors of the company at the request of the Committee on securities and stock exchanges of the USA.
  • In addition, the company Tesla has to pay an additional 20 million dollars in fines and agree to add to its Board two independent Directors.
  • Elon Musk needs to resign as Chairman of the Board of Directors within 45 days and will be voted out of office for a term of three years, but will retain his post of General Director of the Tesla.
  • Recall that in the US filed a case against the head of Tesla Mask. The claims related to the notification Mask on Twitter August 7, where he expressed readiness to buy back Tesla’s shares from the market at $ 420. In the Commission, pointing to other message Mask, noted that he introduced investors astray when he wrote about the support of the redemption from the found investor. The authors of the claim consider that the Mask had no reason to make such statements.
  • Statements Mask, common in the social network Twitter, falsely indicated that if he so decides, he is nearly guaranteed to sell Tesla to private investors at a price which contained a substantial premium relative to the price of Tesla stock at the time that the funding for this multibillion-dollar deal was guaranteed, and that the only requirement was a vote of shareholders.

In fact, Musk is not even discussed, not to mention the fact to confirm key terms of the transaction, including price, to any potential funding source.

False and misleading public statements Mask and omissions have created significant confusion and disturbance for the stock market Tesla and led to subsequent losses for investors.

  • Musk is counting on the investor in the person of the sovereign Fund Saudi Arabia Public Investment Fund, who recently acquired about 5% of Tesla. But in the end it turned out that at the time of the tweet, the Mask is no agreement on the deal was not. The Fund ultimately invested in a competitor Tesla – the company Lucid.
  • In accordance with the laws of the United States, companies and their executives have no right to give false information regarding significant corporate events.

About the author

credit

Leave a Comment