Tesla whipsaws investors on doubts Musk has funds to go private
21 August, 2018, 08:31 | Author: Christina Harvey
And an exhausted Musk, who is under pressure to keep increasing production of Tesla's Model 3s, could use the help.
Musk's tweet caused a financial firestorm with Tesla shares immediately skyrocketing by nearly 11 per cent, although in the coming days they lost a good part of what they had gained and tanked further after Musk's interview with the NYT.
But it was in the interview with with YouTuber Marques Brownlee that Musk casually dropped the suggestion that it might take his company "maybe" three years to start turning out a truly low-priced electric vehicle.
He added, "You think this is an option". After telling the New York Times that his job was taking a serious emotional toll on him, he spoke to YouTube personality Marques Brownlee, suggesting that it would take "maybe" three years to produce a $25,000 vehicle. 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.
The interview took place on August 15 but a 17-minute video was uploaded by Brownlee on YouTube on Friday - a week after Musk tweeted about taking Tesla private with "funding secured" that created a storm at the Tesla board and amid market watchers.
On Friday, Arianna Huffington - who collapsed from exhaustion in 2007 and has since become a crusader for the importance of sleep - penned an open letter to Musk asking him to "apply that same passion for science not just to your products but to yourself". Last week, the Securities and Exchange Commission sent the company a subpoena regarding the statement.
On August 7, Mr Musk, 47, shocked Wall Street by announcing on Twitter that he could take... There's no way you can connect with your incredible vision and creativity when you don't give yourself time to reconnect not just with those you love but also with yourself and your wisdom, ' she added.
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.
Huffington's attempted intervention comes at a time when she's been campaigning in support of the benefits of sleep. Then you'll love the Lucid Air's front fascia. Lucid's website is taking refundable $2 500 deposits for the vehicles it plans to eventually sell.
In July 2017, Bloomberg News reported that Lucid had hired Morgan Stanley to raise more money and was considering an outright sale after exploring early-stage takeover talks with Ford Motor Co.
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