Tesla shares down more than 4% on worries about potential SEC probe

  • Tesla's shares fall by more than 4 percent Wednesday on rising concern the carmaker is facing an SEC investigation following CEO Elon Musk's tweets last week about going private.

Tesla shares fell more than 4 percent Wednesday on continued concern the Securities and Exchange Commission will investigate the electric car maker.

The agency has sent subpoenas to the company over CEO Elon Musk's recent comments about having secured funding to take Tesla private, Fox Business Network's Charles Gasparino said Wednesday on Twitter, citing a "company source."

The New York Times later reported the SEC had served Tesla with a subpoena, citing an unnamed source.

If Musk's statements were untrue, he could be accused of manipulating Tesla's stock.

Tesla declined to comment.