Tesla Stock Bounces, Rep. Collins Charged With Insider Trading

  • TESLA TROUBLE: Electronic vehicle maker Tesla's CEO Elon Musk made waves this week when he tweeted that he was going to take the company private for $420. The company's stock bounced, and investors were confused whether the series of tweets were a joke. It turns out Musk was serious: Tesla is considering going private, which will give Musk and investors more control while allowing them to avoid short sellers. The situation, though, led to an investigation on the part of the Securities and Exchange Commission, Bloomberg reports. 
  • COLLINS COMPLICATION: New York Rep. Chris Collins was charged by the SEC this week for insider trading, The New York Times reports. He sat on the board at a biotech company and allegedly alerted family members to the news that one of its drugs had failed a trial. They allegedly sold shares of the company based on that information.
  • MEDIA MERGER: Tribune Media, which was set to be sold for $3.9 billion to the Sinclair Broadcast Group, terminated its merger this week, according to Reuters
  • ADMIRABLE WITCH: Hetty Green was a powerful force on Wall Street in its early days. This New York Post piece explores her influence and why she was considered a witch by some.