Elon Musk riled up the stock market on Tuesday, tweeting that he was thinking of taking Tesla private at $420 per share, "funding secured."
Shares of the electric car company skyrocketed 7.4 percent as the CEO's message sunk in, CNBC reports. Then trading was brought to a halt.
Tesla's shares had already spiked Tuesday thanks to reports of new investment in the company, per CNBC. The post-tweet frenzy sent shares as high as $371.15, and trading was eventually halted at $367 per share.
Musk soon tweeted again to sort of clear up the situation, saying shareholders could either sell at $420 or hold their shares as Tesla went private. He hopes all current investors stay with Tesla even if it goes private, Musk tweeted, but "will ensure their prosperity in any scenario."
Musk recently hinted at a rejection of Wall Street, saying Tesla "would not be raising equity at any point" during a call to analysts Wednesday, per the Los Angeles Times. Tesla is worth $61 billion, and going private at $420 per share would lock the company's valuation at $71.3 billion. Musk expects the company to be profitable in 2018's third quarter, despite reporting a record loss of $718 million in the second quarter last week. Kathryn Krawczyk
"We have made a lot of progress as far as denuclearization is concerned and we are talking about a lot of different things. Things are going very well with North Korea," President Trump told reporters Saturday of his Friday conversation with North Korean negotiator Kim Yong Chol.
"That was an incredible meeting," Trump said. "We've agreed to [another summit between Trump and North Korean leader Kim Jong Un], probably the end of February. We've picked a country, but we'll be announcing it in the future. Kim Jong Un is looking very forward to it and so am I."
Vietnam, Thailand, and Singapore are thought to be under consideration for the summit's location. Read a "plausible roadmap to peace with North Korea" from The Week's Harry J. Kazianis here. Bonnie Kristian
At least 66 people were killed and dozens more injured Friday when a fuel pipeline in Mexico exploded after being ruptured by fuel thieves. Some 85 people not included in the current death toll are listed as missing as of Saturday morning.
A crowd of people had gathered to collect the spilling fuel in plastic containers when the fireball occurred. Local authorities said the death toll could continue to rise given the severity of the injuries and the number of people whose whereabouts remain unknown.
Illegal pipeline taps like this one, which occurred near the town of Tlahuelilpan about 60 miles north of Mexico City, are a chronic problem in Mexico; an average of 42 taps were drilled daily in the first 10 months of 2018. "Far from stopping the fight ... against fuel theft, it's going to become stronger," said Mexican President Andres Manuel Lopez Obrador on Saturday. "We'll continue until we've eradicated these practices." Bonnie Kristian
Jason Van Dyke, the Chicago police officer convicted of second-degree murder and 16 counts of aggravated battery for his fatal shooting of a black teenager named Laquan McDonald in 2014, was sentenced Friday to six years and nine months in prison.
With good behavior, Van Dyke could be out of custody in three years or less, his lawyer said. The special prosecutor who handled the case had requested a sentence of 18 to 20 years, and the sentence Van Dyke received is for the murder charge alone, not the battery. Each of the battery convictions had a mandatory minimum sentence of six years, and the judge could have ordered them to be served sequentially.
On Thursday, three other officers accused of falsifying reports to justify the shooting were acquitted. Bonnie Kristian
Saturday's third annual Women's March is expected to draw smaller crowds than in previous years thanks to accusations of anti-Semitism among national organizers.
Former Democratic National Committee chair Rep. Debbie Wasserman-Schultz (D-Fla.) formally withdrew her participation Friday, saying she "cannot associate with the national march's leaders and principles, which refuse to completely repudiate anti-Semitism and all forms of bigotry."
Other prominent speakers and sponsors from past years — including Sen. Kamala Harris (D-Calif.), Sen. Kirsten Gillibrand (D-N.Y.), the Democratic National Committee, the Southern Poverty Law Center, and NARAL — have cut ties as well. Most did not issue specific statements explaining their decision.
For those who do participate, events are organized in Washington, D.C., as well as hundreds of other cities nationwide and around the world. Policy focuses this year include the minimum wage, health care, and opposition to President Trump.
Read The Week's Shikha Dalmia here on the controversy and divisions within the march's ranks. Bonnie Kristian
