The briefly boosted share price is maybe the last chance to get out before Tesla tanks completely. Musk will burn through this cash quicker than we will comprehend what really happens or what a Ponzi scheme is.
Saudi Arabia’s sovereign wealth fund has reportedly invested heavily in Tesla, sending shares of the electric automaker higher during Tuesday’s trading session. According to a report by The Financial Times, which cited people with direct knowledge of the matter, the fund – overseen by Saudi crown prince Mohammed bin Salman – has built up a 3% to 5% stake in Tesla. That amounts to $1.7 billion to $2.9 billion at Tesla’s current share price.