SEC subpoena increases caution on Tesla (TSLA)

According to the Financial Times, the US Securities and Exchange Commission (SEC) has subpoenaed Tesla (TSLA), said a person familiar with the matter, as part of an investigation into a tweet by founder Elon Musk over plans to take the electric car maker private. In addition to some weakness in fundamentals compared with other world-class automakers, Cyceon stressed on caution after it appeared that Musk’s surprise announcement had yet to be confirmed by its board despite potential further massive investment from Saudi sovereign fund. This SEC subpoena is another indication for caution while TSLA fell to USD 338 per share, USD 40 below the post-announcement peak on August 7, 2018 at USD 378.

© Chart provided by Yahoo Finance, add-ons by Cyceon.

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