The Latest: Musk says going private would free Tesla
NEW YORK (AP) — The Latest on Tesla CEO Elon Musk proposing to take the electric car private at $420 per share (all times local):
3:45 p.m.
Tesla CEO Elon Musk is laying out his rationale for possibly taking the company private, saying the move would free the electric car maker to focus on long-term goals, rather than the quarterly concerns of Wall Street.
Musk detailed his proposal in a blog post on the company's website Tuesday, hours after stunning the company's followers by casually tweeting that he might take it private.
Musk complains that Tesla is "the most shorted stock in the history of the stock market" and many people "have the incentive to attack the company."
He says no final decision has been made.