Hyperdrive
Musk Finds Humor in Tesla’s $420 Stock Getting ‘So High’
- Billionaire referred to weed-linked price in take-private post
- Over 500 days later, shares climb above level for first time
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Elon Musk is getting a laugh out of a 503-day-old marijuana joke that securities regulators didn’t find so funny.
Tesla Inc. climbed above $420 for the first time Monday as fresh financing arranged from banks in China added to optimism supporting a months-long rally. Musk, who was sued by the U.S. Securities and Exchange Commission last year for falsely tweeting he had funding to take the company private at that price, cracked a joke about the milestone on his favorite social-media platform.