Tesla Inc: Elon Musk says he's considering taking car-maker private

While Mr Musk has previously discussed the drawbacks of being a public company, he has also used his Twitter account in ways that surprised investors.

Tesla boss Elon Musk has suggested via Twitter that he is "considering" taking the electric vehicle firm private.

Elon Musk sent shares of Tesla into a frenzy on Tuesday, when the billionaire inventor wrote in an unconfirmed tweet that he's considering taking the auto company private, and has already secured the funding - language he should be sure to follow through on, according to Scott Galloway.

It's unclear from where Musk has secured funding.

Tesla did not immediately respond to a request for comment. The company underwent an initial public offering in 2010.

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"It's not easy to take a company that's losing money private", Galloway said.

A deal at $420 per share represents a 22.8% premium to Tesla's closing price on Monday, valuing the company at about $72bn.

Tesla's shares were up 6.5% at $363.46. 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. They were initially driven higher after the Financial Times reported Saudi Arabia has quietly built a big stake in Tesla. Musk owns almost 20 percent of the company. The tweet prompted questions about how serious Musk's intentions were.

Tesla has spent millions as it reached a goal of producing 5,000 Model 3 sedans per week by the end of June.

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