Tesla Stock Staying Public
Tesla stock staying public.
In a continuation of the soap opera, Tesla stock will be staying public. TSLA CEO Elon Musk wrote a blog post stating in part that “Our investors are extremely important to me. Almost all have stuck with us from the time we went public in 2010 when we had no cars in production and only a vision of what we wanted to be. They believe strongly in our mission to advance sustainable energy and care deeply about our success.”
On August 7th, 2018, Tesla shares went up 11% after Musk said the company could go private. He wrote and email to his employees: “As a public company, we are subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla, all of whom are shareholders. Being public also subjects us to the quarterly earnings cycle that puts enormous pressure on Tesla to make decisions that may be right for a given quarter, but not necessarily right for the long-term.”
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There have been several lawsuits done by shareholders based on the prior news. Thus, TSLA CEO Elon Musk continued in his recent statement that: “Given the feedback I’ve received, it’s apparent that most of Tesla’s existing shareholders believe we are better off as a public company. After considering all of these factors, I met with Tesla’s Board of Directors yesterday and let them know that I believe the better path is for Tesla to remain public. The Board indicated that they agree.”
Tesla stock might continue their wild swings starting tomorrow.