Musk Says in Tweet He Is Considering Taking Tesla Private

Elon Musk

Elon Musk listens at a press conference following the first launch of a SpaceX Falcon Heavy rocket at the Kennedy Space Center in Cape Canaveral, Florida, U.S., February 6, 2018. The company underwent an initial public offering in 2010.

Tesla's stock spiked Tuesday after Musk made the abrupt announcement in a terse tweet.

Tesla shares are up more than 5 percent at $360.64. He implied the funding values the company at $420 a share. Musk owns almost 20pc of the company. "Funding secured", Musk tweeted shortly before 1 p.m. on Tuesday.

Tesla's shares were already moving higher prior to Musk's tweet, after the Financial Times reported that Saudi Arabia's sovereign wealth fund has built a $2 billion stake in the electric automaker.

Who Won 'The Bachelorette' 2018? Becca Kufrin Chooses [Spoiler]!
Two weeks ago, The Bachelorette star narrowed her suitors down to the controversial Garrett Yrigoyen and cutie Blake Horstman . Uncle Chuck thinks Garrett has a really "beautiful soul" and is a "poet". "He's really everything I could want in a partner".

Tesla did not respond to a request for comment immediately. Mr. Musk has a history of joking on Twitter and sending erratic tweets.

"If true, this would be an incredible and surprising development".

Tesla (TSLA) has burned through cash while struggling to produce its Model 3 cars.

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