Tesla Boss “Elon Musk” once said he had a buyer that would take Tesla private at $420 a share. That never happened — but the stock just got there all by itself, without any buyer or outsider’s help.
More than a year later, Tesla might still not have a buyer, but on Monday, during the shortened year-end holiday week, the shares climbed above the magic $420 number with Tesla market cap hitting $76B. It’s an all-time high for the stock and a remarkable feat after a topsy-turvy year.
Musk tweeted in August last year that he is “considering taking Tesla private at $420. Funding secured.” At the time, the share price was $379.57 — nowhere near $420. Speculation about the identity of the mystery buyer was rife, and many investors thought Musk might be making a joke: 420 often refers to the police code for cannabis possession.
Elon Musk says he’ll go bankrupt if Tesla, SpaceX do
Tesla CEO Elon Musk said Sunday that if his companies Tesla and SpaceX go down, he’ll go down with them.
“If Tesla [and] SpaceX go bankrupt, so will I. As it should be,” he wrote.