Tesla stock is all over the place as board confirms meeting with advisers
Tesla's board has scheduled meetings with advisers to look into going private and has asked Musk to recuse himself from the process.
So way, way back on Tuesday when Grimes' problematic boyfriend Elon Musk tweeted that he was considering taking Tesla back to being a private company, the internet and the stock market lost their dang minds. It caused such a hubbub that the Securities and Exchange Commission reportedly felt it had to get involved.
Now, several days later, CNBC reports thatthe board of directors at Tesla has scheduled a meeting with financial advisers next week to discuss the possible costs and benefits to actually following through on Musk's brash tweets. The best part is that the board reportedly advised Musk to recuse himself from the whole process, despite him having allegedly talked to the investment arm of the Saudi Arabian government about funding the potentially $70 billion buyout after it made a purchase of around 5 percent of the company worth around $2 billion.
Elon Musk tweets about taking Tesla private and the world goes crazy.
All this buyout talk had predictably dramatic results on Tesla's stock price, with a massive spike just after Musk's tweets went out, followed by a gradual tapering off as people's skepticism started to kick in as to whether South African Tony Stark could actually pull it off. Now, as the board's announcement has gone out that it would actually consider the possibility of going private, the stock has again begun to jump up in again in after-hours trading.
In summation, Tesla stock is even more volatile than usual, Elon Musk says some wild stuff on Twitter, and the internet is freaking out about it.
More on this as it develops, and you know it will.