Elon Musk tweets about taking Tesla private, shares soar

[Shawn Knight]

Forward-looking: Taking Tesla private could solve a lot of headaches for Musk but it wouldn't be cheap. At $420 a share, Tesla would have a market cap of around $71 billion.

Elon Musk on Tuesday sent share values in Tesla soaring with a single tweet highlighting his interest to take the company private.

Musk in the tweet said he is considering taking Tesla private at $420 per share, adding that funding for the potential move has already been secured. In follow-up tweets, Musk said shareholders could either sell at $420 or hold their shares and go private, adding that he was super appreciative of Tesla shareholders and would ensure their prosperity in any scenario.

Am considering taking Tesla private at $420. Funding secured.

— Elon Musk (@elonmusk) August 7, 2018

Shares in Tesla opened at $343.84 before hitting a high of $371.15 around mid-day on the news. Prices have since dipped a bit to around $367 as of writing, still an increase of more than seven percent on the day.

As the matter unfolds, some are questioning whether or not the tweets are authentic. They did come from Musk’s verified Twitter account but it’s possible that someone could have hacked the account and published the tweets to manipulate share value for personal gain.

The $420 value also raises some eyebrows as it is a reference to cannabis culture. A random trolling tweet about weed seems out of place, however, especially considering the subject matter.

Tesla did not return repeated calls for comment from CNBC, nor did the Securities and Exchange Commission, as of this publishing.

Lead photo via Getty Images

Permalink to story.

https://www.techspot.com/news/75862-elon-musk-tweets-about-taking-tesla-private-shares.html

 

[wiyosaya]

I bet this will help - alot! /sarcasm

 

[psycros]

"The $420 value also raises some eyebrows as it is a reference to cannabis culture. A random trolling tweet about weed seems out of place, however, especially considering the subject matter."

You're kidding, right? Musk is a huge meme-monger who routinely weaves Internet culture into this online posts. He's taken full advantage of the personality cult that's grown up around him. The progressives are desperate for an idol to replace Steve Jobs.

 

[wiyosaya]

"The $420 value also raises some eyebrows as it is a reference to cannabis culture. A random trolling tweet about weed seems out of place, however, especially considering the subject matter."

You're kidding, right? Musk is a huge meme-monger who routinely weaves Internet culture into this online posts. He's taken full advantage of the personality cult that's grown up around him. The progressives Id!ots are desperate for an idol to replace Steve Jobs.

Fixed that for you!

 

[davislane1]

"The $420 value also raises some eyebrows as it is a reference to cannabis culture. A random trolling tweet about weed seems out of place, however, especially considering the subject matter."

You're kidding, right? Musk is a huge meme-monger who routinely weaves Internet culture into this online posts. He's taken full advantage of the personality cult that's grown up around him. The progressives Id!ots are desperate for an idol to replace Steve Jobs.

Fixed that for you!

Distinction without a difference.

 

[p51d007]

Trying to prop up the stock price so he can cash in before it bottoms out again?
Anyone ever check to see if he is related somehow to John Delorean? LOL

 

[McMurdeR]

Genius or con artist? Find out for $420 a pop!

 

[Uncle Al]

Actually, I'm wondering if this in in anyway a violation of the SEC regulations .... not unlike the "pump and dump" scheme's of years ago. We'll have to see if Elon suddenly sells a large block of stock or any of his friends do as well .......

 

[Kotters]

"The $420 value also raises some eyebrows as it is a reference to cannabis culture. A random trolling tweet about weed seems out of place, however, especially considering the subject matter."

You're kidding, right? Musk is a huge meme-monger who routinely weaves Internet culture into this online posts. He's taken full advantage of the personality cult that's grown up around him. The progressives are desperate for an idol to replace Steve Jobs.

lol, you think the Progressives like Musk? They've been attacking Tesla for years.

 

[Theinsanegamer]

Watch over the next month for musk to start selling stock, followed by horrible news about tesla's finances.

This reeks of trying to prop up the stock price of a company.

 

[wiyosaya]

"The $420 value also raises some eyebrows as it is a reference to cannabis culture. A random trolling tweet about weed seems out of place, however, especially considering the subject matter."

You're kidding, right? Musk is a huge meme-monger who routinely weaves Internet culture into this online posts. He's taken full advantage of the personality cult that's grown up around him. The progressives Id!ots are desperate for an idol to replace Steve Jobs.

Fixed that for you!

Distinction without a difference.

Comedic genius, you are!

"The $420 value also raises some eyebrows as it is a reference to cannabis culture. A random trolling tweet about weed seems out of place, however, especially considering the subject matter."

You're kidding, right? Musk is a huge meme-monger who routinely weaves Internet culture into this online posts. He's taken full advantage of the personality cult that's grown up around him. The progressives are desperate for an idol to replace Steve Jobs.

lol, you think the Progressives like Musk? They've been attacking Tesla for years.

It fits their narrative, so why not?

 

[captaincranky]

And why shouldn't Tesla stock soar in value? After all, they only lost 2 billion dollars last year, their "mid-range vehicle", the S-3, has jumped from the imaginary leader price of $35,000 to $49.000, and they're being built in tents. Oh, and Musk himself is heading to China to abuse Chinese workers in a new Tesla factory.

(And he's most likely taking his submarine with him. That is if he doesn't leave it sticking out of some poor unsuspecting stock buyer's a**).

Only the most callous and hard hearted could avoid putting a deposit on a Tesla these days.. (y)

You ask what am I going to do about this bonanza? Why, I'm mortgaging my hovel, to buy Tesla stock tomorrow, right after I throw boiling water on my face. Gimme a break, I'm just trying to fit in,