Home Blockchain News Saudi Arabia Hedges Majority of 4.9% Stake in Tesla as Wall Street Expects Musk to Forecast a Q1 2019 Loss

Saudi Arabia Hedges Majority of 4.9% Stake in Tesla as Wall Street Expects Musk to Forecast a Q1 2019 Loss

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Saudi Arabia has reportedly slashed its exposure to Tesla. Part of the SEC’s complaint against Tesla and Elon Musk last year was related to Musk’s claims that Saudi Arabia was backing him in taking the company private. The SEC fined Tesla and Musk separately for $20 million each in the debacle. According to the Financial Times, the Saudi Public Investment Fund made a move on January 17th to hedge its investments against expected damage to TSLA stock. They retain their 4.9% holdings in TSLA, but they will not actually lose any money if things go south for TSLA. The arrangement

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