Tesla shares fall 5 percent after Musk abandons buyout

Tesla shares fall 5 percent after Musk abandons buyout

6 years ago
Anonymous $oIHRkISgaL

https://www.cnbc.com/2018/08/27/tesla-shares-fall-5-percent-after-elon-musk-abandons-buyout.html

Trading in Tesla shares in Germany on Monday pointed to a 5 percent drop when U.S. markets open as investors reacted to Chief Executive Elon Musk's decision to abandon plans to take the luxury electric car maker private.

Musk said in a blog post late on Friday that consultations done with the help of Goldman Sachs and Morgan Stanley had shown most of Tesla's existing shareholders opposed the deal he proposed on Twitter three weeks ago to widespread shock on Wall Street.