Tesla Tumbles As Broader SEC Inquiry Revealed

Bloomberg reports that the U.S. Securities and Exchange Commission is intensifying its scrutiny of Tesla’s public statements in the wake of Elon Musk’s tweet Tuesday about taking the electric-car company private. “funding secured.”

Additionally, SEC enforcement attorneys in the San Francisco office were already gathering general information about Tesla’s public pronouncements on manufacturing goals and sales targets, according to the people who asked not to be named because the review is private.

All the gains from yesterday’s exuberant tweet and headline-fest are gone.

Bloomberg notes that the SEC inquiry is preliminary and won’t necessarily lead to anything more formal.

Tesla still hasn’t disclosed any sources of financing for the deal and no one has stepped forward publicly to say they’re backing the plan.

Once again Tesla bonds were right first…

For some context as to just how large and unprecedented this ‘deal’ would be…

Infographic: Potential Tesla Buyout Would Be The Largest Ever | Statista

You will find more infographics at Statista

We notice Musk is a little quieter than normal on Twitter today…

 

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Author: Tyler Durden