Wealth Fund: Saudi Arabia and Report Sunday

wealth fund: The bearish analysis followed a report Sunday that Saudi Arabia's sovereign wealth fund the very investor that Musk has described as a linchpin of his plan to take Tesla private was considering buying a stake in another U.S. electric-car company, according to The Toronto Star. Elon Musk's description of using a prescription drug to sleep and of the toll that leading Tesla has taken on his personal life also raised questions about the well-being of the Tesla chief executive officer. JPMorgan analyst Ryan Brinkman, who rates Tesla the equivalent of a sell, said such a deal is potentially far from even being formally proposed. Patrick T. Fallon / Bloomberg file photo The Saudis' Public Investment Fund is in talks for a separate 1 billion investment in Lucid Motors Inc. that would give the fund control of that fledgling automaker, Reuters reported. The slump would have been the longest streak since a similar run through July 6, according to data compiled by Bloomberg. Tesla fell for most of the day in New York, pointing toward a fifth straight daily drop, before it bounced back and closed up 0.96% at 308.44. (news.financializer.com). As reported in the news.