Tesla's go-private debacle was a year ago - but there are still good reasons for the company to leave the stock market
- It's been over a year since Elon Musk's now-infamous effort to take Tesla private.
- The scheme was a spectacular failure.
- But there are still good reasons why Tesla shouldn't be a public company.
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A year ago, Elon Musk tweeted his now-infamous "funding secured" message, announcing a failed bid to take Tesla private at an inside-joke price of $420 per share.
What followed was jeers from critics, baffled enthusiasm from fans, and an investigation by the US Securities and Exchange Commission that cost Musk his chairmanship of the Tesla board and installed a protocol that would have him pre-approve tweets that might affect investors.In retrospect, the entire episode was tinged with madness and could have been interpreted as Musk cracking, after years of jousting with Wall Street short sellers and a media that was equal parts booster-ish and hostile.
Somewhat lost in the chaos was a still-important question: "Would Tesla be better off as a private company?"
The answer is actually yes. Here are five reasons why:
Get the latest Tesla stock price here.