The saga continues at Tesla.
Just announced late Friday, CEO Elon Musk has confirmed that the "going private," deal will NOT happen. As the news around TSLA has kept me at the edge of my seat, it's been interesting to watch the entirety of this story play out. In addition, class action lawsuits stacking up as well.
So, what's next for the electric vehicle manufacturer?
More negative news has come out, regarding the company's Model 3's that have been less than stellar in terms of build quality. And the latest word on the street suggests that Musk will either be pushed out or provided with a chief operating officer (COO) that can effectively reel him in and take on the operational duties required for such a prodouction.
With the SEC investigating TSLA, it's definitely not a good thing. It's practically a three-ring circus at this point.
So, I've got to ask, Spies: What happens next?
Tesla Inc Chief Executive Elon Musk said late on Friday he would heed shareholder concerns and no longer pursue a $72 billion deal to take the luxury electric car maker private, abandoning an idea that stunned investors and drew regulatory scrutiny.
The decision to leave Tesla as a publicly listed company raises new questions about its future. Tesla shares have been trading well below their Aug. 7 levels, when Musk announced on Twitter that he was considering taking Tesla private for $420 per share, as investors wondered what this meant for Musk’s ability to steer the company to profitability...
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