Tesla stock hits $420 and Musk has the last laugh

Tesla stock hit $420 yesterday afternoon – a new record for the Californian company. CEO Elon Musk once joked that he’d take Tesla private at $420 a share (a reference to Cannabis culture) and yesterday when they hit the magical number he even tweeted quote: “woah … the stock is so high lol”.

So, why did Tesla stock soar yesterday? Well we would put it down to Tesla securing a $1.4 billion loan to build out their Shanghai Gigafactory, as well as a new Winter update which features lots of significant new features such as text message reading as well as improvements to Autopilot.