August 9, 2018 / 6:30 PM / in 2 months

Tesla shares fall as investors await Musk's funding plan

Tesla shares (TSLA.O) down 2.7 percent in late morning trade as investors jittery about CEO Elon Musk’s plan to take co private for $420/shr, valuing co at more than $70 billion

FILE PHOTO: A Tesla sales and service center is shown in Costa Mesa, California, U.S., June 28, 2018. REUTERS/Mike Blake/File Photo

** Stock down for second day after reports U.S. regulators examining Musk’s tweets and SoftBank not interested in a deal, saying it was “over valued”.

** TSLA has given back over half of Tuesday’s 13.3 percent gain.

** Analysts skeptical of Musk’s ability to fund buyout; No details yet on funding.

** Co has $10.9 billion in debt; bonds rated junk by credit ratings agencies.

Reporting by Sruthi Shankar in Bengaluru

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