1. Tesla currently has a beta of 1.64. On Aug 7, 2018 Tesla stock traded at $339. Midway through the day Elon Musk Tweeted the following: "Am considering taking Tesla private at $420" This Tweet upset the Securities Exchange Commission and was against securities law. The stock price went from $339 to $387 before dropping back to $379. Explain what these price movements mean. Why would the price move at all? Why would the stock price move up? Why not to $420? Why would it move up to $387 and then back to $379? You should use information about the probability of the acquisition occurring in your answer and consider the value to shareholders if the firm goes private versus the value to shareholders if the firm does not go private. The best answer will contain words like new information