Elon Musk floated a blog post stating that TSLA will remain a public trading company. The news came up after the declaration on getting private a few weeks ago. The cause of going private was unstable stocks of the company and in order to protect against short sellers.

How did It happen?

Such an erratic decision was taken by the CEO, Elon Musk on the basis of a feedback form received by the shareholders who also constitute institutional investors. The form says that they have to limit internal rules on the amount they can spend on a private company. They don’t have to disclose it, which is not the same case with public companies.

“Given the feedback I’ve received, it’s apparent that most of Tesla’s existing shareholders believe we are better off as a public company. There is also no proven path for most retail investors to own shares if we were private.”

It all started in August when Elon Musk decided to take Tesla private at $ 420 per share. This was done to avoid the pressure of showcasing quarterly results. Though the initial statement stated that funding factor has been worked out but according to recent ventures, they are still figuring out plans with Public Investment Funds of Saudi Arabia.

Why Did It Happen?

The investors predicted that if Tesla decides to go private, their stock rate could reach a $ 4000 per share. But Elon Musk argued that by taking this step, the core reason behind finding Tesla would evaporate. The priorities such as mobility, autonomous trucks, utility energy storage, etc. will be left behind. Further explaining, that it would be more problematic to go masked as the process is challenging and time-consuming. Time consumption is something we are trying to retard.

The Road Not Taken

Suddenly a wind wised passed and on a fine Thursday, Elon Musk after meeting the board of directors of Tesla chose to keep the company public. Said that it would be better for Tesla, which was further proven with the agreement of board members.

A tweet from Elon Musk regarding the same has been floated on Twitter while he was driving to the airport. This led to the U.S Securities and Exchange Commission to put up an inquiry which later reported manipulation of the share price. The share prices have fallen since then.

No further report, tweet, statement or blog has been seen buzzing around on the stocks and shares by Elon Musk.  If you want to invest in the stock of Tesla, you can check its balance sheet at https://www.webull.com/balance-sheet/nasdaq-tsla.