Tesla Stock Falls 12% After SEC Sues Elon Musk

(CNN Money) — Tesla’s stock tumbled Thursday evening after the SEC sued Elon Musk for misleading investors.
Musk tweeted on August 7 that he had secured funding to take Tesla private at $420 a share. Typically, stocks match takeover prices that a company publicizes. Investors assume the deal will be completed and the company will eventually be worth the price at which the company says it will be sold.
However, skeptical investors never believed Musk, and the stock never approached an