Perhaps no chief executive is more inextricably linked to his company as Elon Musk is to Tesla. The SEC claims Musk misled investors on August 7 when he tweeted he had secured funding to take Tesla private at $420 a share, causing Tesla's stock to soar. Tesla's stock dropped about 14% Friday. Garrett Nelson, an analyst with CFRA, downgraded Tesla's stock to a "sell" rating on Friday. Lenders could be reluctant to throw money at Tesla when the chief executive is facing a potentially lengthy court battle.
Source: CNN September 29, 2018 14:03 UTC