Shares of Tesla spiked briefly on Tuesday afternoon after CEO Elon Musk suggested he was considering taking the company private.
“Am considering taking Tesla private at $420. Funding secured,” the eccentric CEO tweeted, sending shares up $16 in five minutes, to $371.07.
The stock has since settled down, to $361.
The electric-car maker was already up 5 percent Tuesday following a report of a Saudi fund taking a $2 billion stake in the company.
Tesla did not immediately respond to a request for comment about whether the tweet was real — or if the CEO’ s account was hacked.
“420” is a slang term for marijuana — and Musk has in the recent past has tweeted prank-ish comments.