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Tesla (TSLA) stock falls on report of Department of Justice criminal probe

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Shares of Tesla (NASDAQ:TSLA) fell by more than 5% in midday trading Tuesday following a report that the Silicon Valley electric carmaker is under investigation by the US Justice Department over statements made by company CEO Elon Musk last month pertaining to the company’s possible privatization and the fact that funding had been “secured.”

News of the Justice Department’s investigation was related to Bloomberg News by two individuals familiar with the matter. The criminal investigation will reportedly run alongside a previously reported civil inquiry by the Securities and Exchange Commission (SEC). Federal prosecutors reportedly opened a fraud investigation over Elon Musk’s now-infamous “funding secured” tweet last August 9, which resulted in TSLA stock soaring 11% to $387.46, according to the publication’s sources.

Tesla is yet to issue a comment on the criminal investigation. The US Department of Justice has not issued a statement on the matter as well.

As of writing, Tesla stock is trading down 3.86% at $283.45 per share.

This story is currently developing.

The post Tesla (TSLA) stock falls on report of Department of Justice criminal probe appeared first on TESLARATI.com.


Source: https://www.teslarati.com/tesla-stock-tsla-department-of-justice-criminal-probe/


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