Analysts have increasing doubts about Musk's ability to take Tesla private.

The BBC reports Tesla Slips as Doubts Grow Over Elon Musk's Take-Private Plan.

Shares in the electric car maker are down more than a fifth since he revealed the plan in a tweet on 7 August. Some analysts predict Tesla still has further to fall: JPMorgan Chase has cut its price target from $308 to $195.

"Tesla does appear to be exploring a going private transaction, but we now believe that such a process appears much less developed than we had earlier presumed (more along the lines of high level intention)," said Ryan Brinkman at JP Morgan.

The bank had raised its forecast following Mr Musk's tweet, which he later said was based on discussions with Saudi Arabia's sovereign wealth fund.

However, Mr Brinkman said it was now clear that the fund's commitment remained uncertain: "Formal incorporation into our valuation analysis seems premature at this time."

I have a stake in this matter now. $195 would suit me quite fine if it happens soon enough. I got in on August 16 as noted in Initiated a Short Position in Tesla Yesterday: Luck of the Draw Interview Today.

I am still way out of the money on my $230 strike price, so for me, bad news on Tesla is welcome.