NEW YORK: Tesla CEO Elon Musk said that the company would continue to be publicly traded, weeks after suggesting that he would take the pioneering electric carmaker private. Musk met Tesla’s board of directors “and let them know that I believe the better path is for Tesla to remain public. The board indicated that they agree,” he wrote on the company blog. Musk surprised markets on August 7 by announcing on Twitter he wanted to take Tesla private at $420 a share. But the shares have fallen more than 20% since. After the announcement the controversial entrepreneur came under extensive scrutiny over his Twitter statements related to the proposal, especially a claim that Tesla had “secured” funding for the move. Tesla shares tumbled on reports that the US Securities and Exchange Commission
Published in The Express Tribune, August 26th, 2018.