Tesla's future significantly altered due to a letter from Cathie Wood, as disclosed by Elon Musk during Twitter discussions.
Elon Musk's Tesla Privatization Trial: An Unexpected Twist with Cathie Wood's Letter
The world is gripped by the trial surrounding Elon Musk's infamous tweet about privatizing Tesla. A surprise element has come to light: A letter from Cathie Wood, a legendary investor, is said to have played a crucial role.
On August 7, 2018, Musk tweeted, "Consider taking Tesla private at $420." His tweet caused a frenzy, landing him hefty fines from the U.S. securities regulator and forcing him to step down as Tesla's chairman. This week, Musk faced court as some shareholders sued the company, claiming losses from the tweet.
During the trial, an intriguing detail emerged. Musk testified about a letter from none other than Cathie Wood, a well-known investor, which significantly altered Tesla's future. He reportedly referred to the investor, saying, "Cathie made me do it!"
Apparently, according to Musk, Wood's letter highlighted that retail investors preferred Tesla to remain publicly traded. This revelation might have convinced Musk, potentially shaping Tesla's future.
It's no secret that Wood is a staunch supporter of Tesla. The electric vehicle maker remains one of the top positions in her Ark Innovation ETF, with additional shares purchased as recently as January this year.
Interestingly, Cathie Wood has been active in the tech investment scene, including decisions about Meta Platforms and other tech stocks[4]. However, there is no definitive evidence that her letter directly influenced Musk's decision to privatize Tesla.
Despite the ongoing legal drama, Tesla's latest quarterly results have been seen, and information about Cathie Wood's recent stock moves is available as well.
[4] Ark Investment Management LLC
By the way: Here's a closer look at Tesla's quarterly results
And here's why Cathie Wood is offloading her favorite stock these days
- Elon Musk, during the Tesla privatization trial, testified about a letter from Cathie Wood, a prominent investor, which significantly altered Tesla's future.
- Musk reportedly said, "Cathie made me do it!" in reference to a letter he received from Wood, suggesting her influence in Tesla's decision-making process.
- Wood's letter seemingly depicted retail investors' preference for Tesla to remain publicly traded, potentially shaping Musk's decision.
- As a staunch supporter of Tesla, Wood's electric vehicle maker remain one of the top positions in her Ark Innovation ETF, with additional shares purchased as recently as January this year.
- Wood has been active in the tech investment scene, including decisions about Meta Platforms and other tech stocks, but there is no definite proof that her letter directly influenced Musk's decision to privatize Tesla.
