Tesla CEO tweets company may soon go private following reports Saudi Arabian fund has a US$2bn stake
Tesla Inc (NASDAQ:TSLA) shares are on the rise after reports that Saudi Arabia’s sovereign wealth fund had acquired a US$2bn stake in the electric vehicle company.
The Saudi’s Public Investment Fund bought a 3% to 5% stake in Tesla, according to a Financial Times report.
Shares of Tesla were up more than 6% to US$362.91 in Tuesday afternoon trading.
On the heels of that news came a tweet from CEO Elon Musk’s account, hinting that the company may soon go private.
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
It is yet to be determined if the tweet was legitimate.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/202405/tesla-ceo-tweets-company-may-soon-go-private-following-reports-saudi-arabian-fund-has-a-us2bn-stake-202405.html
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