Musk says he may take Tesla private and shares roar

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.

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

"Funding secured", the tweet added, offering no further details on timing or source of funding.

Tesla has been publicly traded since 2010, and has seen its share price rise from just under $20 then to $360 at time of writing. Musk owns almost 20pc of the company.

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"I believe Tesla considers Tweets as public disclosure". The fact that the tweet gives a specific price, and that $420 is a long-standing marijuana in-joke, makes it even more possible that this is a hoax or Musk's idea of a joke.

Representatives for Tesla did not immediately confirm the tweet was genuine.

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