Insolvency City: Tesla (TSLA) bids $2.8B for SolarCity (SCTY)

WASHINGTON, June 21, 2016 – In a breathtaking act of hubristic grandstanding, taxpayer-funded Tesla’s (symbol: TSLA) media-proclaimed genius Elon Musk launched a $2.8 billion bid by that company to take over solar panel purveyor Solar City (SCTY) to the tune of $26.50-28.50 per share. The interesting part: Musk just coincidentally happens to be the controlling shareholder…