Tesla, Inc.'s stock took a nose-dive on Friday, following Elon Musk’s ‘tearful’ interview to the New York Times.
On August 7, Musk tweeted about “secured funding” at $420 for taking Tesla private. Musk admitted in the NYT interview, published late Thursday, that he hadn’t run the tweet by anyone in Tesla before posting it. Also, the “$420” price was somewhat arbitrarily based on his assumptions alone – as hinted by him in the same interview. He is apparently yet to complete formal discussions with investors and board members before a final decision can be reached on whether or not Tesla should be going private.
Musk seemed emotional during the interview and said that this was the “the most difficult and painful year" of his career.
Tesla’s stock plunged -9% on Friday