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posted by takyon on Sunday August 26 2018, @03:01PM   Printer-friendly
from the full-thrust-reverse-engine-spin dept.

Submitted via IRC for SoyCow1984

CEO Elon Musk: Tesla will remain a public company

In a blog post published Friday evening, Tesla CEO Elon Musk said that he would change course from his sudden announcement three weeks ago and would actually keep Tesla as a publicly-traded company.

"It's apparent that most of Tesla's existing shareholders believe we are better off as a public company," he wrote. "Additionally, a number of institutional shareholders have explained that they have internal compliance issues that limit how much they can invest in a private company. There is also no proven path for most retail investors to own shares if we were private."

Musk noted that he had met with the Tesla board of directors on Thursday and "let them know that I believe the better path is for Tesla to remain public. The board indicated that they agree."

See also: Analysis: Why Elon Musk abandoned his plan to take Tesla private


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  • (Score: 2) by requerdanos on Sunday August 26 2018, @05:48PM (1 child)

    by requerdanos (5997) Subscriber Badge on Sunday August 26 2018, @05:48PM (#726613) Journal

    Perhaps you missed the reply to "duh", but it counters the thrust of your argument.

    I didn't miss that reply, and it was irrelevant with respect to my statements about the fact that "The pressure to sacrifice future growth and development in order to increase the coming quarterly results, even slightly, is probably a 'bad thing'".

    In fact, that reply is about government restrictions on investing in private companies. I said Tesla should not be private because it "probably couldn't exist without investment from shareholders", something strengthened by a post pointing out that investment would be hindered were the company not public.

    Did you read my post? Did you read your own?

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  • (Score: 0) by Anonymous Coward on Sunday August 26 2018, @05:59PM

    by Anonymous Coward on Sunday August 26 2018, @05:59PM (#726623)

    Elon wasn't wrong. The government is wrong. The government is the problem, not Elon's sense of what needs to be done.