Remembering the $420 Private TweetFebruary 3rd, 2020
It is interesting to look back at TSLA for the last few years. In a nutshell, Tesla posted good quarters, the stock started to rally, Elon said stuff the SEC didn’t like and the stock tanked. Twice.
At one point, the SEC claimed Elon was inflating the share price and that the funding was not secured.
While, I can’t speak to the validity of this, I chalked up Elon’s behaviour to either Elon being silly or more likely he genuinely wanted to take the company private and legitimately felt he secured funding.
With regards to securing the funding, we may forever hear both sides. But ultimately, now that the stock is $755.28/share, whoever it was (Saudi Sovereign Wealth Fund) that didn’t have Elon’s back in terms of claiming they solidified a $420/share price agreement, has had a huge missed opportunity.
The shares may never be so cheap again.
jsturgis February 3rd, 2020ABOUT THE AUTHOR:
I am TSLA Long. Model 3 Owner. Brother of a Model 3 owner. Son of a Model S owner. I have reservations for Slate Roof and Cybertruck. I am a Tesla speculator and fanboy. I am not a financial advisor. Investing in anything comes with inherent risk.