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Tesla shares slip below level before Musk's going private tweet

2018-08-10 03:01    Investing

Tesla shares slip below level before Musk's going private tweet Technology News

© Reuters. A sign is seen outside the Tesla Inc. Gigafactory 2, which is also known as RiverBend, a joint venture with Panasonic to produce solar panels and roof tiles in Buffalo, New York

NEW YORK (Reuters) - Tesla Inc's (O:TSLA) shares slipped more than 6 percent to a two-day low on Thursday, to trade below its level before Chief Executive Elon Musk took to Twitter on Tuesday to announce he was considering taking the electric car maker private.

Tesla shares were trading at $346.65, down about $10 from where they were before Musk's tweet on Tuesday sent the shares soaring to a near one-year high.

Wall Street analysts have expressed doubts about the billionaire' s ability to gather enough financial backing to complete a going private deal.

U.S. regulators are asking Tesla why Musk announced his plans on Twitter and whether his statement was truthful, the Wall Street Journal reported on Wednesday.

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