Tesla shares climb after Elon Musk tweets he will take the company private

Tesla shares climbed as much as 13pc on Tuesday night after its mercurial co-founder Elon Musk announced he was considering taking the electric car maker private.

In a series of tweets Mr Musk, who has repeatedly complained about Tesla’s treatment on the public market and clashed with analysts, said he had already secured funding for the plan.

The company later released a statement, in which it said a final decision had not yet been made on whether to take Tesla private.

However, it said being public meant it was “subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla, all of whom are shareholders”, and put it under pressure to make short-term…

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