Tesla shares have been volatile this week after boss Elon Musk’s teary New York Times interview and amid growing doubts over Musk’s ability to take the company private.
Just days after Musk shocked the world with his ‘going private’ tweet, analysts are now casting doubts about his claims.
“Tesla does appear to be exploring a going private transaction, but we now believe that such a process appears much less developed than we had earlier presumed (more along the lines of high level intention),” Ryan Brinkman at JP Morgan told media.
There was also a report over the weekend how the Saudi Arabian sovereign wealth fund, the prime candidate to take Tesla private, is now considering investing in a Tesla rival, Lucid Motors, which was founded in 2007 by a former Tesla executive. If the reports are true, Musk could be hard pressed to find the $70bn to take Tesla private.