SoylentNews is people
SoylentNews
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
(Score: 0) by Anonymous Coward on Sunday August 26 2018, @07:38PM (1 child)
Because that's not what going private means. There are plenty of ways of investing in private companies, they're just not as convenient as using an exchange to buy and sell small amounts of the company.
My dad is a part owner in a bar and the process of selling his share would be rather involved. As opposed to his investments in publicly traded companies which take a matter of minutes to go through the full process.
Companies are rarely willing to accept investors on such a small scale unless it's via stocks.
(Score: 0) by Anonymous Coward on Sunday August 26 2018, @08:15PM
That's what Elon is saying: "There is also no proven path for most retail investors to own shares if we were private."