24 (XINHUA) — TESLA’S SHARE PRICE ROSE TO A RECORD $420 IN MID-DAY TRADING ON MONDAY, WITH CEO MUSK MISSING THE MOMENT TO JOKE AND TWEET, “WOW.” This stock is so high! lol. Musk’s post was originally written in English as “the stock is so high.” “High” is a pun here, either as the stock price is so high or as the excitement of smoking marijuana. Musk is joking about his own troubled tweet last year.
In August last year, Mr Musk’s suggestion on social media that he would privatise the company at $420 a share and that “funds were locked” led to a lawsuit by the Securities and Exchange Commission for misleading investors.
The SEC said at a news conference announcing the suit that Musk set tesla’s privatization price at $420 a share to “please his girlfriend” because the “420” number is so important in the marijuana culture.
Musk eventually settled with the SEC, agreeing to pay a $20 million fine and resign as Tesla’s chairman.