Elon Musk tweets he has funding to take Tesla private
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:
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
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.
Source: Ars Technica