Published: September 28, 2018
Share prices fell 12% on Friday following a SEC suit accusing Musk of fraud and seeking to ban him from running a company
What is Tesla without Elon Musk? That was the question Wall Street was asking on Friday as the electric car company’s share price plummeted following news that the US’s top financial regulator was suing Musk for fraud and seeking to ban him from running a public company.
For the billionaire entrepreneur, it was the latest self-inflicted wound from a series of car crashes that have battered Tesla’s share price and Musk’s reputation. On Friday morning, Tesla’s share price was down another 12% as investors worried the car company’s leading light was finally out.
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