Tesla share trading halted after Musk tweet boost

Elon Musk considers taking Tesla private as stock jumps

Bullish on the performance and increased production of "Model 3" cars, Tesla CEO Elon Musk is now planning to introduce a mini-car. Even as the world's 31st-richest person and Tesla's largest shareholder, Musk would be reliant on outside funding for any buyout since his fortune is highly illiquid.

When NASDAQ trading was stopped, Tesla's shares were at $366.94, a 7.3 percent gain. "They would continue to have separate ownership and governance structures", Musk wrote.

Tesla posted a new blog to its site, essentially a copy-and-paste of an email Musk sent to Tesla's employees regarding taking the company private again.

Since Tesla went public in 2010, its stock has been on a roller coaster ride, gaining nearly 2,000 percent in eight years, but also reportedly becoming at times the most shorted stock in history.

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[T] he reason for doing this is all about creating the environment for Tesla to operate best.

He shared more details in a series of Twitter replies, noting that should Tesla go private, he'd remain in his role as founder and CEO of Tesla. They are also shielded from the ups and downs of the stock market.

Musk also faced intense public criticism after he suggested in a tweet that one of the rescuers of the Thai soccer team trapped in a cave was a pedophile.

Tesla did not immediate respond to requests for comment. Based on 24 analysts polled in the last 3 months, 10 are bullish on Tesla stock, 6 remain sidelined, while 8 are bearish. It's not clear Musk has the funding to complete the deal, and he would need a majority of shareholders to agree to the plan.

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The whole thing isn't yet set in stone because it must be put to a shareholder vote. Musk has vowed that the company will start turning a regular profit in the second half of this year.

Despite the unconventional method of disclosing such information, analysts took Musk at his word.

And yet it also left many questions unanswered, namely how Musk - who owns nearly 20 percent of the company - would be able to come up with the $66 billion necessary to complete the transaction.

Taking Tesla private could remove some of the pressure on the closely watched company. The Financial Times earlier reported the investment.

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In an interview with Bloomberg News in January 2015, he spoke of the benefits of running his closely held rocket company Space Exploration Technologies Corp. and his frustrations with having taken Tesla public in June 2010. "His mission for Tesla (to accelerate the globe's adoption of sustainable energy) is both grand and long-term, making it hard to accommodate investors quarterly expectations".

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