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Share Price $420

Shares Rise 6.5%

In response to those Tweets, Tesla Rose 6.5% in Afternoon Trading.

Shares are up but Musk does not have controlling interest. Where's the funding?

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Tesla’s stock was up 6.5% at $364.11 in early afternoon trading, meaning it would need to climb a further roughly 16% to reach $420. The Financial Times reported on Tuesday that Saudi Arabia’s sovereign-wealth fund has accumulated a roughly $2 billion stake in the company.

Tesla couldn’t immediately be reached for comment.

Publicity Stunt

My best guess is this is another publicity stunt hoping to squeeze the shorts. But if that is a success, who will be left to buy?

Mike "Mish" Shedlock