Tesla shares crater as Wall Street reacts to bid for SolarCity →

in ,

This one's simple: the headline IS the story. 

Summary? Tesla shares lost 10% in today's trading as shareholders felt unconvinced that the $2.9 billion bid to purchase SolarCity, a leaser and developer of solar power generation and power generation devices, was a good idea.

Musk is going to have to come out from behind the desk and sell this one hard. Also-- it looks like it's an all-stock deal** that some thing undervalues SolarCity's potential. 

 

**In an 8-K filing, Tesla proposed exchange from 0.122 to 0.131 shares for each share of SolarCity stock.