Today in San Francisco, Elon Musk went on trial because he has been sued by some Tesla shareholders over this Tweet he sent out on August 7, 2017.
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
This Tweet that he was planning to take Tesla private by purchasing all the shares at $420 and that he had secured the funding to do so caused the stock price to rise sharply but the deal did not materialize and the stock price plunged a week later when it appeared that he did not have the funding deal.
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