Tesla Motors (Nasdaq: TSLA) shares tumbled more than 4% on Tuesday, hitting a session low of $188.34 per share, as Wall St. awaits financial information related to the planned acquisition of SolarCity, expected to be revealed in today’s Q&A at 5:00pm Eastern Time.
A press release issued by the Palo Alto-based automaker, turned energy company, states that it will post “additional information about the pending acquisition of SolarCity”. Management teams from both Tesla and SolarCity will hold a 30-minute live Q&A via a webcast beginning at 2:00pm Pacific Time.
Details of the live webcast are as follows:
- What: Question & Answer Webcast to Discuss Tesla’s Pending Acquisition of SolarCity
- When: Tuesday, November 1, 2016
- Time: 2:00pm Pacific Time / 5:00pm Eastern Time
- Blog: http://ir.tesla.com
- Webcast: http://ir.tesla.com (live and replay)
Tesla CEO and SolarCity Chairman Elon Musk will need to convince shareholders that the merger between Tesla and SolarCity will bring value to investors, amid speculative reports that the acquisition is only meant to serve as a means to bail out SolarCity from financial troubles.
Tune in here as we provide a breakdown of what will eventually be discussed at the live Q&A webcast with Tesla and SolarCity management.