Tesla Stock jumps after Elon Musk says it’s ‘impossible’ to leave the company private now

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Tesla

it’s been a wild race this year. Whatever happens in 2021, one thing is for sure, the market will be accompanied.

This is according to the chief executive of Tesla (ticker: TSLA), Elon Musk, who he said on Twitter that now depriving the company of electric vehicles is “impossible.”

Musk’s comment responded to a Christmas Eve tweet about the best allocation of his time and resources, in which the CEO also said that “the company’s engineering, design and overall operations absorb the vast majority of my mind and are the fundamental limitation to do more. ”

Longtime Tesla fans will remember the frenzy of speculation that Musk started in August 2018 when he said he was thinking of depriving Tesla when his shares reached $ 420. The comment landed him in hot water with the Securities and Exchange Commission, and his deal with the agency forced him to step down from the presidency.

With this year’s huge stock rally, Musk’s missteps are likely to be forgotten for a long time among Tesla bulls. His statements helped lift the stock market on Monday. Shares of Tesla rose 2.3% to $ 677.13 in recent trading, after rising more than 700% so far. The shares joined the

S&P 500

last week.

That said, Musk fans looking forward to the opportunity to invest more with the employer could still have the opportunity, despite the restrictions that

Musk also said on Twitter that Starlink, his satellite internet company, could be made public in the future when its growth is more predictable, something he has said before.

Separately, Musk tweeted Monday that he was meeting with Larry Ellison, CEO of

Oracle

(ORCL), in Hawaii to “ask for advice” and would return to work on Tesla Tuesday.

Write to Teresa Rivas to [email protected]