Elon Musk’s Tesla buyout would reengineer take-private deals
(Reuters) – Billionaire investor Elon Musk has always done things his own way, from designing space rockets to manufacturing electric cars. Now the Tesla Inc CEO is looking to reengineer how a company can be taken private.
Musk announced on Twitter on Tuesday that he was considering taking Tesla private for $420 per share, or $72 billion, in what would be the biggest deal of this kind. He said the funding for the deal was secured, but did not provide details.
Tesla shares ended up 11 percent at $379.57, indicating investors gave some credence to the plan.
Tesla Dips as Investors Question Musk’s $72 Billion Aim to Take Carmaker Private
Tesla edged lower in pre-market trading Wednesday as investors appeared to question founder and CEO Elon Musk‘s $72 billion vow to take his iconic clean-energy car company private.
Musk unveiled his intentions in a 12:48 pm eastern time Tweet Tuesday that sent shares rocketing more than 8.5%…
…prompting a ninety minute suspension on the Nasdaq, as investors rushed to snap-up the shares amid his intention to “taking Tesla private at $420” per share, adding that he had “funding secured”.
Did Elon Musk break any laws with his going-private tweet today?
Regulation Fair Disclosure, or FD, requires companies “to distribute material information in a manner reasonably designed to get that information out to the general public broadly and non- exclusively.”
Today's Trade of the Day | 8-8-18
The stock market bulls appear to have run out of room without a fresh catalyst. So that means I am looking for a new short sale expecting a day of profit-taking. LVS Las Vegas Sands continues to show bearish gaps lower and solid selling order flow. Game planning a $68.75 sell stop to trigger the sell short. Stop loss on a close above $70. Expecting a pause after entry @ $68. My target to cover the short sale comes in at $64.25
Stocks to Trade | Wednesday Edition 8-8-18
Bullish Cash Flow Trades: HTZ, MNK, TSLA, I, PBF, BZUN, DFS
Bearish Cash Flow Trades: crzo, apc, nbl, nlsn, aa, lng, crc, x, rio
New 20 Day Breakout: HTZ, MNK, TWLO, TSLA, EMR, IVV
New 20 Day Breakdown: xray, crzo, apc, nbl, bidu
Double Normal Volume: TSLA, HTZ, XRAY, Z, ETSY, MNK, APC, TWLO, NBL, HEAR
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