Lucid Motors, a startup co-founded 11 years ago by a Silicon Valley veteran, is in the spotlight following news reports over the weekend that Saudi Arabia's sovereign wealth fund would be willing to invest $1.5 billion in it, possibly as an alternative to playing a key role in taking Tesla private. Since Musk first tweeted about going private on August 7, the stock has slid 20 percent, representing a loss of about $13.5 billion.
Tesla plunged further on Elon Musk's acknowledgment of the hurdles standing in the way of his effort to take the company private and the emergence of another electric-car company attracting interest from a key investor. Amidst the controversy surrounding Musk's announcement, and after the CEO published a blog post explaining his rationale behind his tweet, the JP Morgan analyst noted that the funding for Tesla's privatization does not seem to be secured at all.
He then added, in an apparent reference to his long hours at work: 'You think this is an option.
Adrian Peterson Signs With Washington Redskins
The Redskins still have Chris Thompson as a pass-catching back, but need someone to help carry the load as a runner. Washington could reap the benefits of a veteran player being overlooked because of age and injury history.
Indonesian holiday island of Lombok struck by second quake in a day
Hotel staff in Neiafu told Reuters by telephone that they did feel the quake , but it did not cause any damage. The earthquakes Sunday are in the Pacific Ring of Fire , an arc of fault lines circling the Pacific Basin.
Manigault Newman has more than audio recordings
She has already released several secret audio recordings, including of the meeting in which she was sacked by Kelly. Due to her history, many commentators have pointed out that it's hard to verify Omarosa's claims as truth.
Tesla shares fell under $300 on Monday amid growing doubts about Elon Musk's ability to take the company private. Sovereign wealth funds often have more patience than public markets and could wait for the technology to be ready for the market, he said. To make Tesla function as an auto manufacturer, Musk needs to bring in other operators "before he burns out or worse", wrote investment banker J. Christopher Whalen of Whalen Global Advisers. Last week, the Securities and Exchange Commission sent the company a subpoena regarding the statement.
"I continue to have discussions with the Saudi fund, and I also am having discussions with a number of other investors, which is something that I always planned to do since I would like for Tesla to continue to have a broad investor base", he added. The Fremont company has not yet started mass producing vehicles, but two years ago it released a prototype for a luxury sedan, the Lucid Air, which comes with a price tag of US$100,000.
Lucid first announced in November 2016 that it chose Arizona as the home for a $700 million manufacturing facility. PIF and Lucid have not discussed any talks publicly.