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 if you hold Tesla stock you need to start preparing right now in today's news I'll be discussing everything you need to know about Elon Musk taking Tesla private so stay tuned till the end of the video hello everyone you're watching trade daily like And subscribe to get all the latest news on Tesla and Tesla stocks now let's get into the news we'll start this off by looking at Tesla's stock price today a share of Tesla stock is trading at 190 dollars per share up one percent at the time of

recording Tesla is a company with huge long-term profits waiting for anyone who gets in early and trust me right now it's still very early to get into Tesla stock Alger Capital an investment management company released its algebra Spectra fund fourth quarter investor letter in the fourth quarter classes shares of the fund underperformed the Russell 3000 growth index the portfolio's largest sector overweight in the quarter was energy and the largest sector underweight was information technology

energy and utility sectors were the significant performance contributors while information technology and consumer discretionary sectors detracted from the performance in addition you can check the top five Holdings of the fund to know its best picks in 2022 Alger Capital highlighted stocks Tesla Inc in the Q4 2022 investor letter headquartered in Austin Texas Tesla Inc is an electric vehicle an energy generation and storage systems manufacturer on February 2 2023 Tesla Inked stock close at 188.27 dollars per share

one month return of Tesla Inc was 66.52 percent and its shares lost 78.83 of their value over the last 52 weeks Tesla Inc has a market capitalization of 595 billion dollars Alger Capital made the following comment about Tesla Inc in its Q4 2022 investor letter Tesla Inc is an electric vehicle manufacturer with a significant technological lead in its large and rapidly growing addressable Market shares underperformed during the quarter as it confronted Transportation capacity issues that caused deliveries to fall

short of estimates as well as developing demand softness moreover the demand softness became evident in increased model 3 and wide discounts the introduction of supercharging credits some consumers deferring purchases until the inflation reduction act EV purchase incentives become effective in January 2023 and other consumers who may be influenced by higher financing rates or deterred from initiating High ticket purchase despite these near-term difficulties we remain constructive on EV Innovation adoption and Tesla's

growth prospects over the long term Tesla Inc is now on our list of 30 most popular stocks among hedge funds as per our database Ada hedge fund portfolios held Tesla Inc at the end of the third quarter which was 73 in the previous quarter this comes just as Elon mus testifies he would have sold space x stock to take Tesla private in 2018. SLS CEO Elon Musk is being sued by shareholders for a series of tweets he wrote in August 2018 saying he had funding secured to take the automaker private for 420 dollars per share under

oath must study could have sold shares of SpaceX the reusable rocket maker that he also runs as CEO to fund the deal Elon must hold the San Francisco Federal Court on Monday that he could have sold shares of SpaceX to take Tesla private in 2018. he was then and still is the CEO and largest shareholder of both companies musk is being sued by Tesla's shareholders for a series of tweets he wrote in August 2018 saying he had funding secured to take the automaker private for 420 per share and that

investor support for such a deal was confirmed trading in Tesla was halted after his tweets and its share price remained volatile for weeks the shareholders in the certified class action lawsuit alleging that musk's tweets were Reckless and false and rely on his statements to make investment decisions cost them significant amounts of money musk would later claim that he had a verbal commitment from Saudi Arabia's Sovereign wealth fund and was sure that funding would come through at his proposed price based on a handshake

however the deal never materialized during his second day on the witness stand must claim that another reason he said he had funding secured for a deal back in 2018 was that he could have sold shares of SpaceX a U.S defense contractor and satellite internet company that he also runs in order to finance the transaction must said under oath SpaceX stock alone meant funding secured by itself it's not that I want to sell SpaceX stock but I could have and if you look at the Twitter transaction as what I did I sold

Tesla stock to complete the Twitter transaction and I would have done the same here musk did not say how many shares in his reusable rocket maker he would have been able to sell to whom at what price in order to finance the Tesla buyout in April 2018 SpaceX set in a Securities and Exchange Commission filing that it had raised about 214 million dollars as part of financing round in which it was seeking more than 500 million dollars in total Equity funding an attorney for shareholders Nicholas L Port of Levy and korsinski asked musk at

the price he suggested for Tesla's shares was a joke because 420 is a reference to cannabis in pop culture musk insisted that this was coincidental he said there is some I think Karma around 420 I should question whether that is good or bad karma at this point this is not the first legal action musk has faced over his tweets the SEC charge must contest love with civil Securities fraud shortly after he sent them and they paid separate 20 million dollars fines to the federal agency to settle the charges they later cited revised

consent decree that required must to relinquish his role as chairman of the board at Tesla temporarily and to have a Securities lawyer vet tweets that contain material business information about Tesla before he posts them most recently became the CEO of social media business Twitter after leading four to four billion dollars leveraged buyout of the company in October 2022. Saudi Prince Ali bintal bin abdulaziz is the social media company's second largest shareholder after musk last November send Chris Murphy

Decon sent a letter to the committee on foreign investment in the United States requesting a review of the financing for the musk Twitter deal jury rules in musk's favor and civil case brought by shareholders against musk over his 2018 tweeted claim that he'd secured funding to take Tesla private Elon Musk celebrated Friday after a jury ruled in his favor in a civil case brought by Tesla's shareholders over Tweets in 2018 that he'd secured funding to take Tesla private bajiri in a California Court ruled

unanimously that musk hadn't defrauded investors with his bogus claim which sent shares of the electric vehicle makers soaring at the time for a brief period a nine-member jury reached its verdict Friday afternoon after two hours of deliberations the case centered on tweets must made in August 2018 about taking Tesla in private including one claiming funding secured the trial lasted for three weeks in the aftermath must paid a multi-million dollar penalty to the SEC and entered an agreement to

have his tweets reviewed by Tesla management to settle regulator claims in the case however investors appear to have struck out in their claims that musk harmed them with his actions the heart of a case turned on whether musk's tweets were misleading enough to have violated Securities laws must use of Twitter at the time forced Regulators to reassess their approach to statements made on Twitter in general SEC guidelines require that information be released to all members of the investing community at the same time and

that the information be truthful Twitter has since emerged as an important platform for corporate Communications and indeed one that musk has since bought largely with money he made from selling Tesla shares while the investors in Tesla at the time of the funding secured tweet claimed to have lost billions in the subsequent Market turbulence evidence suggests that if they had simply held on to their shares they would be a lot happier now Tesla's highest split adjusted price on on 2018 was 25.30 it closed Friday at

189.98 dollars and with that ladies and gentlemen we've come to the end of the news like And subscribe to stay up to date with all the Tesla news but just before we go I usually like to remind you that this video is from news and entertainment only and should not be used as investment advice