Tesla Sinks After Musk Opens Up About Going Private Tweet In Nyt Interview


– Tesla Inc’s (TSLA.O) shares slumped as much as 9 percent on Friday after Chief Executive Elon Musk told the New York Times that his tweet last week about taking the company private was not reviewed by anybody.

The electric car maker’s stock was set for its worst day in nearly five months as Musk’s comments come at a time when federal regulators are pressuring Tesla’s directors for details on how much information he shared with them.

The paper also reported that efforts were underway to find a No. 2 executive to help take some of the pressure off Musk, who has been dealing with production issues for its key Model 3 sedan and criticized for his erratic behavior on Twitter.

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