Tesla hits low of the day, down 6%

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Elon Musk speaks on stage during the Westworld Featured Session during SXSW at Austin Convention Center on March 10, 2018 in Austin, Texas.

Shares of Tesla have given back all of the stock’s gains from earlier this week, as uncertainty starts to weigh on CEO Elon Musk’s hopes of taking the company private.

The stock lost 6 percent by midday trading Thursday, falling below $346, including a 1-percent dip on a Bloomberg report that the SEC was investigating Tesla prior to Tuesday, when when Musk publicly floated the possibility to go private and sent shares up 11 percent.

Musk claimed the necessary funding to take the company private had been secured, but that claim has drawn scrutiny and skepticism in the days since — reportedly spurring inquiries from the SEC.

With Thursday’s dip, Tesla stock is up 12 percent in 2018 and flirting with correction territory, 10 percent off its 52-week high.