“Tesla shares plummeted in after-hours trading on Thursday after the Securities and Exchange Commission sued Elon Musk over a series of tweets that he posted in August claiming that he was poised to take the automaker private.
“Here’s how we got to this point, beginning with the tweet on Aug. 7.
“After repeatedly expressing frustration over public trading of the company’s stock, including investors who bet that the stock would decline, Musk tweets that he was planning to take Tesla private at a share price of $420, with “funding secured.”
“Tesla shares jumped on the news after trading was halted for part of the afternoon while investors awaited clarification.”
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