Elon Musk tweets he has funding to take Tesla private

Enlarge / Tesla CEO Elon Musk in 2015. (credit: ODD ANDERSEN/AFP/Getty Images)

Tesla’s CEO roiled the stock market on Tuesday with a tweet suggesting that he might seek to take the company private at a price of $420—almost 20 percent above the company’s then-current price of around $355:

Within minutes, the stock surged another $15 to $370 per share. The value has been swinging wildly ever since.

In a Twitter direct message to Ars Technica, Musk confirmed he was serious about the proposal. “Yes, might take Tesla private” he said.

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Source: Ars Technica

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