Tesla Shares Fall Again On Doubts About Go-private Deal

Tesla Motors dropped in early trading on Monday due to rising doubts about Chief Executive Elon Musk's plans to take the electric carmaker private.

New York, (UrduPoint / Pakistan Point News - 20th Aug, 2018 ) :Tesla Motors dropped in early trading on Monday due to rising doubts about Chief Executive Elon Musk's plans to take the electric carmaker private.

Shares fell 2.6 percent to $297.55 about 20 minutes into trading, continuing the company's downward trajectory after Musk surprised markets on August 7 by announcing on Twitter he wanted to take Tesla private.

Musk said at the time he planned to take Tesla private at $420 a share. But shares have fallen more than 20 percent since August 7. On Monday, investment bank JPMorgan Chase lowered its target on Tesla shares from $308 to $195.

Since that time, the controversial Musk has come under extensive scrutiny over his Twitter statements related to the proposal, especially a claim that Tesla had "secured" funding for the go-private transaction.