Photo: Joe Skipper / Reuters
The Federal Commission on the securities and exchange Commission (SEC) is going to check the statement Elon musk on intention to buy shares of Tesla, writes The Wall Street Journal. This has triggered the fall of the shares of the electric car.
According to the newspaper, the authorities have several issues to opportunity. First, the SEC wants to know why Musk wrote about his intention on Twitter, and not made a formal offer to shareholders.
Second, SEC will check if there is enough from the businessman money to buy. Otherwise, the transaction may be blocked due to violations of the rights of investors.
The message caused a collapse of quotations of Tesla stock traded on NASDAQ. Paper lost 2.43 percent, having fallen to a mark of $ 370 per share.
7 Aug Elon Musk wrote on Twitter that it is considering a buyout of Tesla stock and turning it into a non-public (not traded on the stock exchange) company. The entrepreneur called the price — $ 420 per share, while adding that the decision is not yet final. The offer is 23 percent higher than the market price as of 6 Aug. As soon as the paper Mask Tesla grew by ten percent.
The businessman said that the stock trading hinder the development of the company. In particular, quotations of the shares subject to too great fluctuations. In addition, Tesla is forced to report to regulators and to not always accept strategically the right decisions.
August 2, Tesla reported the results of its operations for the second quarter of 2018. The company suffered record losses — 717,5 million $ 336,4 million in the first quarter due to the launch of the new model Model 3. Its production requires additional costs.
Video, photo All from Russia.