Hyperdrive
Tesla Shares Sink as Pressure Mounts on Musk to Show the Money
- No evidence yet about financing for $82 billion plan
- SEC reportedly probing CEO’s pronouncement on Twitter
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Doubts about Elon Musk’s ability to take Tesla Inc. private mounted across Wall Street on Thursday, driving the stock down as much as 4 percent in what’s shaping up to be the worst rout in a month.
The stock slipped to $356.66 in late morning trading, well below the $420 at which Musk said shareholders would be bought out. It’s now dropped on back-to-back days after having jumped 11 percent on Tuesday, when Musk vowed that he had “funding secured” for a spectacular $82 billion deal.