If You Invested $1,000 In Tesla When Elon Musk Said Company Was Going Private, Here's How Much You'd Have Now

Elon Musk has amassed more than 58 million followers on Twitter Inc TWTR. The well-known Tesla Inc TSLA CEO is active on the social media platform and in 2018 tweeted something that got him and his company in trouble while also putting a bigger spotlight on the electric vehicle company.

Musk Tweets: On Aug. 7, 2018, Musk tweeted he had secured funding to take Tesla private at $420 per share.

Tesla of course remains a public company and was not taken private in 2018.

The SEC frowned on the tweet as Tesla did not have funding for a deal and Twitter was not the correct avenue to disclose such a transaction.

Tesla agreed to pay a $20 million fine and Musk stepped down as the chairman of the company for a period of three years.

Tesla shares traded lower after Musk later said the company would not go private and it was too big to do so.

Related Link: 5 Things You Might Not Know About Elon Musk 

Investing $1,000 In Tesla: Despite the initial move lower in Tesla shares, people who bought shares of the electric vehicle company have done well since Musk’s tweet.

Shares of Tesla traded at $387.45 at their high on Aug. 7, 2018. A customer could have purchased 2.58 shares of Tesla with $1,000.

A 5:1 split in August 2020 happened for Tesla shares, turning the 2.58 hypothetical shares into 12.9 shares.

Those 12.9 shares of Tesla would be worth $8,977.11 today based on a share price of $695.90 on July 30, 2021.

Investing in Tesla shares on Musk’s tweet of going private has yielded a near 800% return in less than three years.

See also: How to Invest in Tesla Stock

Image by Iván Jesus Rojas from Pixabay