Elon Musk tweets he may take Tesla private


"Funding secured", Musk said on Twitter.

Early on Tuesday afternoon, Elon Musk's official Twitter account sent a tweet suggesting that Musk was going to lead a private buy-out of Tesla's stock for $420 per share.

A spokesman for Tesla did not immediately return a request for comment.

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"Am considering taking Tesla private at $420". He implied the funding values the company at $420 a share.

His asking price of $420 would be 22 percent of Monday's closing share price, and almost 9 percent above the stock's all-time closing high of $385.

Tesla now has a market value around $60 billion, which would make its take-private price tag about $80 billion, Galloway said.

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While Musk is known for making erratic tweets, he tweeted "420" in a reply to Fox Business anchor Liz Claman, following up on his initial tweet.

Some outlets are questioning whether or not the tweet came from Musk himself, but considering how Tesla's stock price reacted to the tweet (at the time of writing, it's up nearly $20 per share over its opening price), it could be just another way to keep burning the folks shorting Tesla stock, who have been the target of many Musk tweets in the past. The tweet prompted questions about how serious Musk's intentions were. They were initially driven higher after the Financial Times reported Saudi Arabia has quietly built a big stake in Tesla.

Tesla has spent millions as it reached a goal of producing 5,000 Model 3 sedans per week by the end of June.

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