Elon Musk Had to Snub Apple’s Buyout Bid Even if Tesla Is in Code Red

By CCN: When Tesla’s stock crashed below $200 this week after the company tumbled into a “code red,” many on Wall Street wondered if Elon Musk should’ve accepted Apple’s $240-a-share buyout offer from 2013. However, despite the horrendous week Tesla is having, Musk was right to stick by his guns. Elon Musk Institutes Emergency Cost-Cutting Last week, Musk admitted in a frantic internal email that Tesla is in dire financial straits. Tesla only has $2.2 billion in cash on hand, which is just enough money to last another 10 months. “This is a lot of money, but actually only gives

The post Elon Musk Had to Snub Apple’s Buyout Bid Even if Tesla Is in Code Red appeared first on CCN

source https://www.ccn.com/elon-musk-apples-buyout-bid-code-red

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