Tesla shares traded above $US420 on Monday, more than a year after Elon Musk tweeted he had "funding secured" to take the electric car maker private at that price, only to later give up under investor pressure and regulatory concerns.In recent months, Tesla's shares have had a run of good fortune on the back of a rare quarterly profit reported in October, news of a production ramp-up in its China factory and upbeat early deposits for its recently launched electric pickup truck.
The number 420 is closely associated with marijuana as a slang for the consumption of cannabis. It also refers to cannabis-related celebrations that take place annually on April 20. . Musk was also forced to step down as chairman and must submit any public statements about Tesla's finances and other topics to be vetted by a legal counsel.