Shares in Tesla Inc fell just under 3 percent on Aug. 27, after Chief Executive Elon Musk abandoned his plan to take the electric carmaker private, with analysts saying the company needed new blood among senior management to prop up its standing with investors.
The billionaire entrepreneur said in a blog post late on Aug. 24 that consultations, done with the help of Goldman Sachs and Morgan Stanley, had shown most of Tesla’s existing shareholders opposed the deal that he proposed on Twitter three weeks ago to widespread shock on Wall Street.
