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    Tesla stock drops on report that the SEC has subpoenaed the automaker

    by Samantha Masunaga, Los Angeles Times Aug 16, 2018 3 minutes

    The Securities and Exchange Commission has reportedly sent subpoenas to Tesla Inc. about plans to take the company private, with a special focus on two words in Chief Executive Elon Musk's brief tweet last week: "funding secured."

    News of the subpoenas, first tweeted by Fox Business Network reporter Charles Gasparino, initially sent the electric automaker's stock price tumbling more than 4 percent on Wednesday morning. It later recovered somewhat, and shares closed at $338.69, down 2.6 percent.

    Gasparino tweeted that the SEC had ramped up

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