Elon Musk tweets he may take Tesla private

Tesla resumed trading on the Nasdaq exchange after a almost two-hour pause on Tuesday afternoon, shortly after the company confirmed in a blog post that CEO Elon Musk is considering taking the electric auto maker private at $420 per share.

Forward-looking: Taking Tesla private could solve a lot of headaches for Musk but it wouldn't be cheap.

The SEC did not immediately respond to a request for comment on Musk's tweet.

Tesla shares, which were already rising on news of the Gulf investor, spiked in response.

He implied that the funding values the company at $420 a share. And finally, he maintains that going private isn't about accumulating control for himself: "I own about 20% of the company now, and I don't envision that being substantially different after any deal is completed", Musk wrote.

Musk claimed on his personal Twitter account to have secured funding for the maneuver, estimating the per-share valuation of the possible transition at $420.

It's also unclear whether the tweet could get Musk in trouble with the U.S. Securities and Exchange Commission.

In a 2013 report, the SEC said companies can use social media outlets to announce important information, so long as they comply with regulations and "investors have been alerted about which social media will be used to disseminate such information".

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Tesla stock was halted for more than an hour and a half and resumed trading up 11 percent to $380.60 as of 3:49 p.m.in NY.

The billionaire co-founder of the company took to Twitter on Tuesday afternoon to say he was "considering taking Tesla private at $420".

The company's shares were up more than 5 percent at more than $360. And if the information in the tweet isn't true, Musk could be looking at some stock price manipulation allegations. "There is a 1 in 3 chance he can actually pull this off and bring Tesla private", said Munster, adding that even at a market capitalization based on a $420 share price, it "may not be high enough to incentivize existing shareholders to support the sale".

Last month, Musk attacked British diver Vern Unsworth, who had dismissed the Tesla chief's efforts to help the rescue mission for the 12 boys as a "PR stunt" in a widely seen interview on CNN. In the future, once Tesla enters a phase of slower, more predictable growth, it will likely make sense to return to the public markets.

The company said last week that it had burned more than $700 million in cash during the second quarter but made roughly $4 billion in revenue amid increased production of its new Model 3 sedan. I think he's serious.

George Galliers, analyst at Evercore ISI said he believed the tweet was serious.

"I can't believe this is something to bluff or make fun of".

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