Probe into Tesla tweet

ELON Musk shocked the business world when he tweeted his intention to make his electric car company Tesla a private firm.

He went so far as to suggest a price of $420 a share, valuing the company at some $70 billion. He said he had the necessary financing arranged.

Naturally, Tesla’s shares immediately jumped and the US Securities and Exchange Commission yesterday formally took an interest in Musk’s tweets. It is “making inquiries” as to the truthfulness of the statement that has had such an impact on Tesla’s stock price.