Surprise: Tesla Is Off Track Again

One day we’re public. One day we’re private. Another day our stocks fall 3 percent. Such is the life of Tesla, Elon Musk’s confused company that has investors scrambling to figure out what is exactly going on. In the financial word, wavering positions on any matter is usually a clear sign for investors to pull out. With Musk’s mistakes this time around, a toll is really being taken out on Tesla.

From the first word that Musk wanted to go private, people were already extremely concerned. He wanted to pursues a $72 billion deal in order to take the electric car company private, but shareholders convinced him to withdraw the bid last Friday. Now, stocks are tumbling with the private plan snubbed and analysts are in talks of how Tesla should find a more suitable CEO to lead the company.

Musk has a lot of support from places like Saudi Arabia, and taking Tesla private could have been bad news for banks. He even said his main reason for keeping the company public was “entreaties from shareholders.” If there’s one takeaway from this debacle, its that Musk needs to make up his mind and not take his company “wherever the wind blows.” It’s about time Tesla took a stand, stuck to it, and stopped getting ahead of themselves.

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6 years ago
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