The Latest: CEO fraud charge hammers Tesla’s stock
DETROIT — The Latest on efforts by federal regulators to remove Elon Musk from his position as CEO and chairman of Tesla (all times local):
5 p.m.
Tesla’s stock plunged nearly 14 per cent Friday, wiping out $7 billion in shareholder wealth after government regulators accused Elon Musk of committing securities fraud and sought to oust him as CEO of the electric car maker.
It marked the largest one-day decline in Tesla’s shares in nearly five years.