MUSK WANTS TO TAKE TESLA PRIVATE

EV major Tesla has been in hot water after CEO Elon Musk tweeted that he had “funding secured” to take it private. The announcement came shortly after a report that Saudi Arabia holds a large stake in the company and its sovereign wealth fund could finance the move. While a three-member panel is evaluating the move, U.S. SEC has reportedly sent a subpoena to Tesla regarding its take-private plan.