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With no white knight in sight, Tesla shares plummet from Musk's tweet-related highs

Jonathan Shieber
With no white knight in sight, Tesla shares plummet from Musk's tweet-related highs

Investors definitely aren't stoked by the deafening silence coming from Tesla after its chief executive announced in a tweet that he plans to drop a fat sack of cash on public shareholders in a bid to take the company private. Tesla's shares have tumbled from their post-tweet highs as investors are now left with the embers of what is increasingly looking like a Musk-induced pipe dream to lift the economic burdens the company faces by delisting it. At the close of the market Tesla shares were down $17.89 to $352.45, basically erasing the gains it had earned based on speculation of an acquirer at a $420 price tag.