Fifteen months after a tweet landed him in hot water with the Securities and Exchange Commission and investors alike, Elon Musk’s Tesla has breached the $420 price-per-share level that he promised to take the company private at in August 2018.
Sticking to his controversial style, Musk tweeted, “Whoa … the stock is so high lol,” just after 11 a.m. EST. Tesla has been on a tear since its launch of the new Cybertruck in November and passed the $420 price point during early morning trading on Monday.
Musk, the CEO of Tesla and SpaceX, is a well-known agitator in the new tech space, and his big promises have been a mixed bag of successes and failures. His critics have assailed missed production goals while his fans see a daring entrepreneur who is willing to take on risk in an effort to push car manufacturing and rocket technology to new heights.
Musk’s “funding secured” tweet led to a $40 million settlement and relinquishment of his role as chairman that Musk said was “worth it.” The stock’s price has been hotly debated by market analysts since its IPO launched seven years ago.
Tesla’s recent success comes after its messy unveiling of a new line of trucks called Cybertruck. During the high-profile launch streamed around the globe, the Cybertruck’s “bulletproof” glass windows shattered when a volunteer threw a metal ball at the driver’s side window.
Whoa … the stock is so high lol
— Elon Musk (@elonmusk) December 23, 2019
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
