Aug 27, 2018 - Energy & Environment

Tesla shares fall after Musk's about-face on going private

Elon Musk. Photo: Joshua Lott/Getty Images

Shares of Tesla fell as much as 4% in early trading on Monday, after CEO Elon Musk’s Friday announcement that he would not take the electric car company private.

Between the lines: Tesla is already under some pressure from shareholders to ramp up production of its base Model 3. And, Reuters reports, some securities lawyers think the abandonment of the plan to take the company private will make Musk's legal drama worse. As an analyst at Barclays puts it, "the cracks in credibility" may limit the potential for Tesla's stock to rise.

Go deeper

Axios
Updated 13 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 4:15 p.m. ET: 32,381,243 — Total deaths: 985,104 — Total recoveries: 22,285,437 — Map.
  2. U.S.: Total confirmed cases as of 4:15 p.m ET: 7,015,242 — Total deaths: 203,329 — Total recoveries: 2,710,183 — Total tests: 98,481,026 — Map.
  3. States: "We’re not closing anything going forward": Florida fully lifts COVID restaurant restrictions — Virginia Gov. Ralph Northam tests positive for coronavirus.
  4. Health: Young people accounted for 20% of cases this summer.
  5. Business: Coronavirus has made airports happier places —The expiration of Pandemic Unemployment Assistance looms.
  6. Education: Where bringing students back to school is most risky.
Go deeper (<1 min. read)Arrow
Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

White House pushes to uphold TikTok ban

Illustration: Aïda Amer/Axios

The U.S. Department of Justice on Friday filed legal opposition to TikTok's request to delay a ban on downloading the app, with a judge expected to rule before the ban is set to go into effect Sunday.

Why it matters: The White House could have simply postponed the ban on its own for another week or two, as it did last Friday. This move suggests it's seeking to use the ban as leverage in ongoing negotiations.

Go deeper (1 min. read)Arrow
Axios
1 hour ago - Podcasts

Substack and the future of media

Traditional media models, and even some of the digital ones, are either under pressure or outright broken. Some journalists have responded by going out on their own, leveraging a new group of startups that help them self-publish and monetize their work.

Axios Re:Cap digs in with Chris Best, CEO of Substack, which has more than 250,000 paying subscribers on its writer network.

Get Axios AM in your inbox

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Subscription failed
Thank you for subscribing!