Kiichiro Sato/AP
- Elon Musk’s plan to take Tesla private has generated a lot of buzz, and it has been met with a lot of skepticism.
- But there are several reasons why he might actually be able to pull off the deal.
- He’s got a few things going for him, including a market with mountains of uninvested cash, an army of believers, and ties to some massive backers that could help him make his plan a reality.
Since setting Wall Street ablaze on Tuesday with an unexpected tweet about taking his car company Tesla private, Elon Musk has been met with a healthy dose of skepticism over his proposed plan as well as his unconventional method of announcing it.
Analysts are taking Musk at his word that he has indeed secured funding, has investor support, and is seriously considering taking the company private — he could face serious legal consequences if he wasn’t entirely truthful. But many nonetheless find the $ 420 a share price tag he’s floated exceptionally high given that Tesla ended trading on Wednesday at $ 370.34 a share.See the rest of the story at Business Insider
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See Also:
- The SEC has reportedly made inquiries into Tesla about Elon Musk’s tweet regarding possibly taking the company private
- Elon Musk is in perilous territory after tweeting about wanting to take Tesla private, experts say
- Elon Musk says taking Tesla private would be ‘enormous opportunity,’ but says no final decision has been made
- If you didn’t think Elon Musk might take Tesla private, you weren’t paying attention
- Elon Musk announces proposal to take Tesla private, but says no final decision has been made
