BREAKING: Elon Musk Goes PUBLIC, Provides Clarification Around Going Private — Does His Story Check Out Or Are YOU Not BUYING It?

Ever since Tesla's CEO, Elon Musk, sent out the tweet that shook the world, it seems as though the whole situation has been as clear as mud. Well, that may change as this morning Musk released a blog post on Tesla's website to help clarify the matter.

And I'll tell you, it's one helluva dance he's doing here. It makes the Foxtrot look easy.

Read Tesla's blog post related to the tweet and going private HERE.

Rather than try to interpret Musk's words/clarification, I'd rather just let you all have a peek at the man's explanation and weigh in for us: Do YOU buy it, or is it merely a way for Musk to avoid getting put in handcuffs for a rather risky statement/tweet?

Here are some important points in my opinion:

The CEO claims that discussions about the proposal with some of the company’s largest investors have been positive.

As for the actual details of the proposal, they are still sparse, but Musk clarified that the deal would be financed through equity and not debt – meaning that the Saudi fund would buy the shares at $420 from investors who don’t want to hold shares of a private Tesla instead of financing Tesla’s own buyback of the shares, which is more common...

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PUGPROUD - 8/13/2018 11:23:35 AM

+9 Boost

Back pedaling for sure. Board likely sat him down with a team of lawyers and suggested he try to clarify before the firestorm spreads any further. Don't think his "I acted with good intentions" position will save him from some type of SEC punishment and lawsuits. "I left a meeting thinking I had funding secured" does
not come close to having FUNDING SECURED (signed letter of intent) and announcing it to the public.

Agent00R - 8/13/2018 12:53:35 PM

+5 Boost

Exactly.

If term sheets were not on the table, I don't believe it's right to tweet "funding secured."

supermoto - 8/13/2018 12:00:11 PM

+8 Boost

Confirmed that funding is not secured. Lol.

qwertyfla1 - 8/13/2018 12:08:53 PM

+6 Boost

Soooooo in other words if my aunt had balls she would be my uncle.

mre30 - 8/13/2018 1:58:23 PM

+4 Boost

#SecuritiesFraud?

Vette71 - 8/13/2018 4:06:20 PM

+2 Boost

Ten minutes before the tweet went out Tesla was supposed to notify NASDAQ that the company would make a material announcement so NASDAQ could talk to them about suspending trading of the stock. Tesla didn't and NASDAQ only found out about through non Tesla channels. It took over an hour to get data and decide to suspend trading. A lot of trades were made in that period so there are harmed parties. Lawsuit fodder. This announcement is Elon trying AIM after he has already FIRED the gun. Too late.

tonyhaddad - 8/14/2018 6:58:11 AM

+2 Boost

This could be a disaster, it will be interesting to see how this plays out.

GermanNut - 8/15/2018 7:20:22 PM

+1 Boost

The SEC has already subpoenaed Tesla and launched a formal investigation regarding Elon Musk's tweet about taking the company private at $420 per share. I firmly believe Elon Musk committed securities fraud. Funding has not been lined up and there never was any agreement in writing to be presented to Tesla's board and its shareholders to take the company private. Elon Musk's tweet manipulated the shares of Tesla based on false information.

This is the last thing the company needs after its well publicized manufacturing setbacks and looming competition in the form of Audi's eTron all-electric SUV.