Twitter Disclosure: Cathie Wood's Correspondence Alters Tesla's Future Significantly
Elon Musk's decision to tweet about privatizing Tesla shook the world, and now we're learning about a pivotal role played by a letter from Cathie Wood. Here's the lowdown on the whirlwind.
Remember when Elon tweeted, "Consider taking Tesla private at $420" on August 7, 2018? That tweet stirred up more than just a storm. It resulted in hefty fines for the serial entrepreneur, forced him to step down as Tesla's chairman, and now has him in the trial of the century. As some shareholders sue Tesla, accusing the company of losses due to the tweet, intriguing details are emerging left and right.
One striking detail is the impact a letter from Cathie Wood, Wall Street legend and a major Tesla fan, might have had on Musk's decision-making process. During the trial, Musk testified about the letter, suggesting that it played a crucial role in shaping Tesla's future. He went as far as to say, "Cathie made me do it!"
However, the specifics about this elusive letter are yet to be disclosed. Some sources suggest that Wood pointed out that retail investors preferred Tesla to remain publicly-traded (Markets Insider). If this is true, the impact on Musk and, consequently, on Tesla could have been substantial.
But wait, it turns out that Wood loves Tesla as much as the next Tesla enthusiast. In fact, her investment firm, Ark Invest, has Tesla among its top stocks, and she recently added more shares of Tesla to her portfolio in January.
Meanwhile, here's a glimpse into Tesla's latest quarterly results
As for Cathie Wood, she's recently been shedding her favorite stocks. Stay tuned for more updates on this intriguing tale.
- Elon Musk testified during the trial that a letter from Cathie Wood may have played a significant role in his decision to tweet about privatizing Tesla.
- Cathie Wood's investment firm, Ark Invest, has Tesla among its top stocks, and she recently added more shares of Tesla to her portfolio in January.
- Tesla's latest quarterly results have yet to be disclosed.
- Cathie Wood has been recently shedding her favorite stocks.
- The cost of Elon Musk's tweet about privatizing Tesla has been substantial, resulting in fines, a step down from his role as Tesla's chairman, and a potential lawsuit from shareholders accusing Tesla of losses due to the tweet.
