Elon Musk indicates taking Tesla private as he posts 'funding secured' tweet

Tesla stock price saudi elon tweet private

"Yes, might take Tesla private", he said.

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.

Musk's other company, aerospace firm SpaceX, is privately owned.

The company had a market value of US$58 billion as of Monday's close.

Tesla went public in 2010, when it offered more than 13 million shares at $17 each.

Tesla shares, which were already rising on news of the Gulf investor, spiked in response.

The Twitter account of Tesla Inc.

The tweets have added to speculation about Tesla, which is spending heavily as it ramps up production of its latest vehicle, the Model 3.

The stock since settled at $366.94 before exchanges halted trading, pending an upcoming announcement from the company.

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

Going private is one way to avoid the intense scrutiny of public markets. The tweet prompted questions about how serious Musk's intentions were. So it will take some very deep pockets to buy up all of Tesla's publicly held stock. "Plus this is short squeeze rocket fuel after a nice quarter", said analyst Chaim Siegel from Elazar Advisors. Shares are up as high as 9% on the day.

Short interest in Tesla on Monday stood at almost $12 billion, equivalent to 28 percent of its float, according to S3 Partners, a financial analytics firm.

"I can't believe this is something to bluff or make fun of".

"Details, structure, participants and how the valuation has been determined remain to be seen".

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