Elon Musk Denies 'Building A House Of Any Kind' Using Tesla Funds After Feds Reportedly Probe 'Secret' Glass Home Project
Portfolio Pulse from Anan Ashraf
Tesla Inc (NASDAQ:TSLA) is reportedly being investigated by the Department of Justice and the Securities and Exchange Commission over a covert initiative known as 'Project 42', aimed at building a glass structure resembling a house for CEO Elon Musk near the Austin, Texas headquarters. Musk has denied these allegations, stating he is not building a house of any kind. The investigations are in the early stages and may not lead to formal allegations.
August 31, 2023 | 6:32 am
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The investigation into Tesla's alleged misuse of funds for a project for CEO Elon Musk could potentially impact the company's stock price.
The news of a potential investigation by the Department of Justice and the Securities and Exchange Commission into Tesla's alleged misuse of funds for a project for CEO Elon Musk could potentially lead to a decrease in investor confidence and a subsequent drop in the company's stock price. However, as the investigations are still in the early stages and may not lead to formal allegations, the impact may not be immediate or significant.
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