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Debt, solar shingles and Desperate Housewives Why are some Tesla shareholders suing Elon Musk?
The Tesla chief could be forced to pay $2 billion if he loses the court case. By Ian Curran Saturday 17 Jul 2021, 7:00 AM 15 hours ago 19,945 Views 8 Comments
Musk arriving to court in Delaware this week
Image: Saquan Stimpson
Image: Saquan Stimpson
WHETHER YOU BELIEVE the hype or not, Tesla is an important company.
Listed on the NASDAQ and a member of the S&P 500, the Elon Musk-fronted electric car-maker is currently valued at over $620 billion after its share price ballooned from about $133 per share in February 2020 to around $650 at the time of writing.
Author Bio
Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.
In a development that sounds more like the action of a supervillain in a science-fiction movie than a corporate asset-building move,
Tesla Motors (NASDAQ:TSLA) is constructing a giant battery in Texas. According to Bloomberg, which broke the story, a subsidiary of the Elon Musk-fronted electric vehicle (EV) company called Gambit Energy Storage is managing the project.