VW wanted to invest in Tesla shares
Author: Mario Schmidtgen
Stock market retreat 30 billion investment
Just three weeks ago Tesla CEO Elon Musk announced via Twitter to withdraw with the company’s stock from the stock market. Now he has decided differently due to the urge of shareholders. Another cause are the potent funders for delisting. Even car maker Volkswagen was interested in joining Tesla in the event of a stock market retreat, according to the Wall Street Journal.
The cancellation of the delisting at the last minute caused a crash of the Tesla share on Monday morning. However, the price rose shortly after again towards $ 320. Musk estimates that the stock will make another breakthrough in the next few weeks. He also mentioned this as the reason for his announcement of the stock market retreat. Because of that, the delisting had to be implemented as soon as possible to avoid losses.
It also states that several investors were willing to support the multi-billion financing for delisting. Apparently Musk had talks with the state fund of Saudi Arabia. Volkswagen, financial investor Silver Lake, and other investors were also prepared to invest $ 30 billion in Tesla. However, according to the Wall Street Journal, Musk was not pleased with Volkswagen’s entry, because he feared that the German carmaker would gain too much influence.
If Musk’s forecast comes true and Tesla is back in the black by the end of the year, it will definitely raise the stock price.