Musknado – Tesla Tumbles After Offering To Acquire SolarCity

Jon Alternative Media, Blogosphere, Government, Real Estate

Desperate, or Distracted? Elon Musk’s Tesla has offered to acquire Elon Musk’s cousin’s SolarCity for 0.122 to 0.133 Tesla shares. Tesla shares are tumbling on the news, as perhaps they read the five reasons why SolarCity pain is only just beginning? As Herb Greenberg asked, “is this even legal?”
From Tesla’s blog,
Tesla’s mission has always been tied to sustainability. We seek to accelerate the world’s transition to sustainable transportation by offering increasingly affordable electric vehicles. And in March 2015, we launched Tesla Energy, which through the Powerwall and Powerpack allow homeowners, business owners and utilities to benefit from renewable energy storage.
It’s now time to complete the picture. Tesla customers can drive clean cars and they can use our battery packs to help consume energy more efficiently, but they still need access to the most sustainable energy source that’s available: the sun.

This post was published at Zero Hedge by Tyler Durden – Jun 21, 2016.