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Tesla Daily: Tesla News & Analysis

Bloomberg Reports on Department of Justice Inquiry of Tesla (09.18.18)

Tesla Daily: Tesla News & Analysis

Rob Maurer

Tech News, Technology, News

4.8 β€’ 1.1K Ratings

πŸ—“οΈ 19 September 2018

⏱️ 6 minutes

🧾️ Download transcript

Summary

– Bloomberg cites anonymous sources in report claiming DOJ criminal investigation of Tesla, Tesla responds
– New York Times cites anonymous sources claiming SEC has issued subpoenas to Goldman Sachs and Silver Lake in connection to Tesla investigation

Links:
Email > tesladailypodcast@gmail.com
Twitter > @teslapodcast
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Executive producer Jerome Jorden
Executive producer Rob Gill
Music by Evan Schaeffer

Disclosure: Rob Maurer is long TSLA stock

The post Bloomberg Reports on Department of Justice Inquiry of Tesla (09.18.18) appeared first on TechCast Daily.

Transcript

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0:00.0

Hello and welcome to the Tuesday September 18th

0:09.8

edition of Tesla Daily on Official Tesla Podcast.

0:13.2

My name is Rob Maower.

0:13.9

Today we're talking about some of the news that came out

0:15.8

impacting Tesla's stock price today.

0:17.8

On the day, Tesla was down 3.35% to $284.96, which compared to the NASDAQ up 0.76%.

0:26.0

Tesla during the morning had been trending pretty positive up until about 12.40 PM

0:31.4

Eastern time, at which point Bloomberg posted an article with the title of, quote,

0:35.7

Tesla is facing US criminal probe over Elon Musk statements, end quote.

0:40.5

The article opened by saying, quote, Tesla Inc. is under investigation by the Justice Department

0:45.0

over public statements made by the company and chief executive officer

0:49.0

Elon Musk, according to two people familiar with the matter.

0:52.0

The criminal probe is running alongside a

0:54.1

previously reported civil inquiry by securities regulators."

0:58.0

End quote. Understandably, this caused a fall in the stock price immediately

1:02.2

after this article was released.

1:03.7

Tesla fell by $20 per share. It's a pretty scary headline, Tesla facing a criminal

1:08.4

investigation by the US government, but as has often been the case for Tesla recently.

1:13.0

This was based on information from anonymous sources.

1:16.0

About an hour after the report came out from Bloomberg,

1:19.0

Tesla followed up with a statement saying,

1:21.0

quote, Last month, following Elon's announcement that he was

...

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