SEC inquired about Elon Musk's tweet regarding taking TSLA private

CEO and lead designer at SpaceX and co-founder of Tesla speaks at the International Space Station Research and Development Conference in Washington

The Wall Street Journal writes that the SEC has made inquiries to Tesla in relation to Musk's tweets about taking the company private, while regulators are working to determine if the erratic billionaire's statements on the matter were "truthful".

Musk's plan to take Tesla private would give all shareholders the option to stay as investors in the now-private company or to sell their shares at $420 per share, which represents a premium of about 20 percent based on the stock price during the second quarter earnings call at the end of June. He followed up the tweet with an email to Tesla employees saying that he thought "the best path forward" would be to take Tesla private.

It's possible Musk could persuade some large institutional investors to remain shareholders in the private company, which could reduce his funding needs, Sacconaghi said.

"Just because" Musk wants it at $420 "doesn't mean that there aren't other people who might be willing to come in with another transaction that would be more beneficial to shareholders", Pitt said. "The board has met several times over the last week and is taking the appropriate next steps to evaluate this". The company declined to comment beyond pointing to an all-employee email sent Tuesday by Musk.

Some on Wall Street shared that view.

"Earlier today, I announced that I'm considering taking Tesla private at a price of $420/share". That report had already partly lifted Tesla's stock. Tesla also would likely need to borrow billions more to help pay for its ambitious plans of its electric vehicle line and its battery manufacturing plants. However, they may balk if Tesla becomes even more leveraged and risky in the process of going private.

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Bloomberg's Selina Wang and Giles Turner reported that Musk and Son failed to reach an agreement over the structure of the company, citing sources.

There still are near-term execution risks around ramping up Model 3 production and the ability to generate cash, Jonas believes.

Those who believe Musk is carrying out a vendetta against short sellers may point to a May 4 tweet suggesting he might have something up his sleeve.

Musk, his brother Kimbal and director Steve Jurvetson were not included in the statement from members Brad Buss, Robyn Denholm, Ira Ehrenpreis, Antonio Gracias, Linda Johnson Rice, and James Murdoch.

Investors have also questioned why the maneuver was not listed in a 69-page SEC filing, submitted last week and released Monday, that provided intricate detail of Tesla's financial outlook and coming events.

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