Musk says he may take Tesla private and shares roar

NEW YORK -- Tesla CEO Elon Musk says he is considering taking the electric car maker private.

Tesla's stock spiked Tuesday after Musk made the abrupt announcement in a terse tweet. He said is considering taking the company private at $420 a share and already has secured funding.

Tesla shares are up more than 5 per cent at $360.64.

Am considering taking Tesla private at $420. Funding secured.

— Elon Musk (@elonmusk) August 7, 2018

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