Topline: After Tesla’s stock jumped to a record $420 per share on Monday, CEO Elon Musk cracked a joke about marijuana, poking fun of his infamous “funding secured” tweet that landed him in trouble with the Securities and Exchange Commission last year and cost him his position as chairman at Tesla.
- “Whoa … the stock is so high lol,” Musk tweeted after Tesla’s stock price rose above $420. April 20, or 4/20, is a popular holiday celebrating cannabis culture, and using 420 to reference marijuana has become a widespread meme.
Whoa … the stock is so high lol
— Elon Musk (@elonmusk) December 23, 2019
He also replied to a Bloomberg tweet about the stock price with the crying laughing emoji.
At its height on Monday, Tesla shares were trading at $422.
While the electric car company has had an up-and-down year, investors appear confident in Musk’s ability after the company posted a surprise third-quarter profit and is making progress in building its first international plant in China.
Key background: Musk’s Twitter presence has always been steeped in meme culture and subtle marijuana references. His most infamous tweet in August 2018—which jokingly said that he was “considering taking Tesla private at $420. Funding secured”—set off a firestorm of criticism for what some called his impulsive Twitter use and landed him with fraud charges from the SEC accusing him of misleading investors. He eventually settled with the agency and was ordered to pay $20 million and step down as chairman of Tesla.