DAA Daily

Tesla’s CEO increases the dangers

By Faris alassam, Staff Reporter, The Pawprint

According to Patrick McGee and Hannah Murphy in the Financial Times, Elon Musk, the CEO of Tesla, confirmed this week that he was serious when he tweeted in 2018 that he had “financing secured” to take the cutting-edge electric-car company private. Musk told a federal jury that he had “what he deemed a ‘handshake’ deal” with Saudi Arabia’s national wealth fund to help finance a stock buyout in response to the charge that he had “artificially inflated Tesla’s stock price” with that public remark. The billionaire disputed claims that the $420 stock price he floated was “a joke” based on “a commonly used phrase for cannabis,” “looking solemn in a dark suit and a dark tie.” But there was “some karma about 420,” he continued.Just whether it was “good or terrible karma,” he wasn’t certain. Tesla’s stock surged well beyond $420, but it is currently only trading at a fraction of that price.

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