company. musk also says he consulted investment firms goldman sachs, morgan stanley and silver lake. the ceo s august 7th tweet said tesla would pay 420 bucks a share to buy out shareholders and take the company private. now that was a 23% premium over the prior day s closing price and would have valued the company at 72 billion dollars. that tweet said musk had secured funding for the deal which would relieve tesla from the short-term pressures of reporting quarterly results. and later, musk said he only expected one third of shareholders to take that deal. the result, tesla s stock roared up 11% the day of the tweet but has since given back all of the gains and below the price when musk first tweeted. the sec is looking into whether musk was trying to manipulate the stock price with the tweet to hurt short sellers. those investors are betting that the stock will fall in order to make their own big gains. and at least two lawsuits have
remain publicly traded, that reverses his controversial tweet from just a few weeks ago, that he was going to take the company private. elon musk last night writing that he changed his mind after getting feedback from investors including some large institutions that said they have rules limiting the amount of money they can invest in to a private company. musk releasing a statement reading in part, quote, given the feedback i ve received, it s apparent that most of tesla s existing shareholders believe we are better off as a public company. musk says he consulted with several investment firms as well. the ceo s august 7th tweet said tesla would pay a 23% premium to buy out shareholders and take the company private. it would have valued the company at 72 billion dollars. now, that tweet of course saying that musk tweeting the stock roared up 11% the day of the tweet now it is back below that level from when musk first tweeted. the sec is looking into whether