*By Carlo Versano*
Tesla shares sank 3 percent in early trading Monday, following CEO Elon Musk's [announcement](https://www.tesla.com/blog/STAying-public) over the weekend that he is abandoning his controversial plan to take the company private.
The reversal capped 16 days of panic inside Tesla to see whether the idea, put forth in a tweet earlier this month, was viable. It finally became clear, by Musk's own admission, that it was not.
In the blog post, published without the fanfare of his earlier tweets, Musk said it had become clear to him that, while "there was more than enough funding" to take Tesla private, doing so would estrange many of the company's existing shareholders (and most ardent supporters of the company). It was reported that Musk also became wary of the strings attached to taking cash from the Saudi sovereign wealth fund, which he said expressed both the interest and ability to fund his buyout.
Musk also said the company "absolutely must stay focused on ramping Model 3 and becoming profitable." Advancing such a huge, complex buyout of public shareholders ー one Musk originally valued at $72 billion ー would take resources away from that effort.
While the will-he-won't-he drama that had captivated Wall Street and Silicon Valley for the last three weeks seems to have come to an end, Musk may not be out from under the thumb of regulators yet. The SEC began a formal inquiry into what Musk meant when he tweeted that he had "secured funding" for a buyout and whether that constituted securities fraud.
That investigation is reportedly still underway, even without a go-private deal on the horizon.
With interest rates high, housing inventory low and Veterans Day just around the corner, Cheddar News took a look at how the current market is impacting those who served and continue to serve our country. Patton Gade, national director of military lending with UMortgage, explains how a VA loan works, its benefits and what's involved in the process of purchasing a home.
Stocks were mixed in Tuesday's early session as Wall Street came off a strong rally last week.
Google on Monday confronted the second major U.S. antitrust trial in two months to cast the internet powerhouse as a brazen bully that uses its immense wealth and people's dependence on one of its main products to stifle competition at consumers' expense.
Hilton Grand said it's in the process of purchasing Bluegreen Vacations in a $1.5 billion deal.
Walt Disney Co. named former PepsiCo veteran Hugh Johnston as its new chief financial officer.
The PlayStation 5 Slim will be reportedly released on Friday.
With the holiday season approaching, many are in the market for a new TV. Cheddar News breaks it all down.
Credit card usage is sure to tick up ahead of the holiday season. With cashback, airline miles and points to be earned, reward credit cards could give you a bonus. Grant Gallagher, associate vice president and head of financial well-being with Affinity Federal Credit Union, spoke with Cheddar News about why it's important to take advance of those rewards.
Tesla is increasing wages for factory workers in Germany.
People are making travel plans and booking tickets as the holiday season nears. Johannes Thomas, CEO of Trivago, joined Cheddar News to provide tips on saving when booking lodging ahead of Thanksgiving and Christmas.
