CEO of Tesla, Elon Musk, tweeted earlier this morning, stating that he’s thinking about taking the company completely private. Tech Crunch states that what’s more, Elon said he might even go so far as to buy back the company for $71.3 billion USD, at a share price sitting around $420 USD. Musk wrote on his social media account, “Am considering taking Tesla private at $420. Funding secured.”
Recent reports rolled in about a Saudi Arabian sovereign Wealth fund bought a $2 billion USD stake into the Tesla company. Figures show Telsa’s stock is currently rallying, jumping as high as $371 USD with a trade around $359 USD. That is a two percent climb following the report on the Saudi Arabian sovereign wealth stake. Since Elon Musk’s tweet this morning, it is reported by FOX Buisness that the numbers are accelerating even more.
Those same numbers show that Tesla’s stock has been changing rapidly and unpredictably as of late. Tech Crunch has called Tesla’s stock changes volatile for the last year. The company stock has been trading for as low as $244.59 USD as of this past April, and has traded as high as $389.61 USD the previous September.
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
As of now, FOX Business reports that it is unclear if the tweet from Elon Musk is legitimate, due to a “Good Morning” tweet coming in 40 minutes making the declarative statement. For now, Tesla has not returned FOX Buisiness’ or Tech Crunch‘s request for comment. As pointed out by The Verge, some people find it “difficult to tell when Musk is serious and when he is joking, especially on Twitter.”
This past April Fool’s day, Elon Musk tweeted a joke about Tesla bankruptcy which proved to be a prank. More on that story can be found at The Verge. As of late, Elon Musk’s Twitter account has been generating a lot of buzz for his various posts. During the Thai cave incident, Elon announced his intent to step in and help, ordering engineers at SpaceX and the Boring Company to head over to Thailand and see if they could help find a way to get the kids out of the cave. Verns Unsworth, a veteran British cave diver called Musk’s call to help a “PR stunt,” saying that Musk could “stick his submarine where it hurts” in an interview. This lead to a tweet by Elon Musk calling Unsworth a “pedo guy,” among other words, which eventually lead to an apology from Musk. Here at the Inquisitr, that story was covered in more depth.
The incident and Musk’s tweets have not shaken his faithful fanbase and devoted fandom.