Musk says he may take Tesla private and shares roar

Elon Musk considers taking Tesla private as stock jumps

On April Fool's Day, Mr Musk joked on Twitter about Tesla going bankrupt.

Chief Executive Elon Musk jolted financial markets on Tuesday with a surprise statement suggesting he is considering taking the electric-car maker private.

The stock had been worth about $342 a share before Musk's tweet.

In his tweet, Mr Musk said he could buy outstanding shares in the firm for $420 each, around a fifth higher than the share's current price.

On April Fool's Day, Mr Musk, who owns nearly 20% of the company, joked on Twitter about Tesla going bankrupt.

"Am considering taking Tesla private at $420".

Tesla's shares jumped as high as $371.15 in afternoon trading.

It was not clear if Musk was serious, as he has a history of erratic tweets, and the company did not immediately respond to request for comment.

It's unclear from where Musk has secured funding. "Would create special goal fund enabling anyone to stay with Tesla. Plus this is short squeeze rocket fuel after a nice quarter", said analyst Chaim Siegel from Elazar Advisors.

Short interest in Tesla on Monday stood at almost US$12 billion, equivalent to 28 per cent of its float, according to S3 Partners, a financial analytics firm.

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