Elon Musk announces he's considering taking Tesla private

Musk said he is considering taking the electric auto maker private. If Musk can't prove the allegedly secured funding at $420 per share, he may be accused of market manipulation or market fraud.

No matter if he was joking or not, as soon as Musk tweeted about this, the stock spiked. His asking price of $420 would be 22 percent of Monday's closing share price, and almost 9 percent above the stock's all-time closing high of $385.

Musk releases an official statement for the company.

In his tweets, Musk said he would keep his Tesla shares no matter what happens, and noted that he now doesn't hold a controlling interest in the company. Shares jumped in Tuesday trading following reports that the Saudi Arabian sovereign wealth fund took a $2 billion stake in the company earlier this year.

The stock was halted at $367 a share shortly after 2 p.m. (ET), as some grew concerned that Musk's tweets were an attempt at market manipulation.

It's unclear what prompted the tweet.

Tesla did not return repeated calls for comment from CNBC, nor did the Securities and Exchange Commission, as of this publishing. Later the stock was halted for more than an hour.

Despite the unfolding media "shitshow", Musk still seems to view privatization as an "enormous opportunity for us all".

Musk later brought some clarity to the situation in an email to Tesla employees that was also posted on Tesla's blog.

However, Mr Musk has said he has no plans to do so and promised that the firm will be profitable in the second half of the year, barring any unforeseen events. If shareholders approved the deal, it would remove Tesla from Wall Street scrutiny, eliminating the need to publicly disclose its earnings and - for Musk - the requirement to explain himself to shareholders.

Last week Tesla said it had achieved its goal of producing 5,000 Model 3 vehicles per week by the end of its second quarter in June, but burned through $739.5m (£565.2m) in cash during the period in order to do it.

Musk - the company's top investor, with more than 20 percent of its shares - has long waged war against the short sellers betting the company's value will plummet.

Analysts took Musk at his word. (TSLA.O) private in a radical step that would ease pressure on the money-losing automaker. The Financial Times earlier reported the investment.

"Musk does not want to run a public company", said Gene Munster of Loup Ventures, as Tesla's ambitious mission makes it "difficult to accommodate investors' quarterly expectations". "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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