Elon Musk is ‘considering’ taking Tesla private

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Elon Musk has a plan to take Tesla private.

The Tesla CEO surprised the tech and automative worlds on Tuesday when he tweeted that he’s “considering” taking the electric car company private — and that he has funding for his plan already secured.

Tesla shares rose sharply after Musk sent the tweet shortly before 1 p.m. ET. Trading was halted about an hour later. The shares reopened around 3:45 p.m. ET and rose again, pushing its stock price up 11 percent on the day.

The stock climbed to more than $381 per share, still below the $420 level Musk said he is considering.

Musk later tweeted that investor support for the plan was “confirmed” but contingent on a shareholder vote.


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