<p>Tesla Inc shares traded above $420 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.</p>.<p>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 production ramp-up in its China factory and upbeat early deposits for its recently launched electric pickup truck.</p>.<p>Orders for the company's Cybertruck have reached close to the record set by its Model 3 sedans in 2016.</p>.<p>"Whoa … the stock is so high lol," Musk tweeted on Monday, after Tesla shares crossed the $420 mark. (http://bit.ly/2MD07Rt)</p>.<p>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.</p>.<p>The take-private tweet in August last year, at a time when Tesla was trading in the mid-$330s, had taken shares as high as $387. Later in the month, shares were closer to $320 amid intense regulatory scrutiny.</p>.<p>The U.S. Securities and Exchange commission fined Musk and Tesla $20 million each for the $420 tweet. 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.</p>.<p>Reuters reported earlier on Monday the company and a group of Chinese banks have agreed to a new 10 billion yuan ($1.4 billion), five-year loan facility for the automaker's Shanghai car plant.</p>.<p>Tesla shares rose over 3.6% in Monday's session and are up nearly 65% since the quarterly report in October. </p>
<p>Tesla Inc shares traded above $420 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.</p>.<p>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 production ramp-up in its China factory and upbeat early deposits for its recently launched electric pickup truck.</p>.<p>Orders for the company's Cybertruck have reached close to the record set by its Model 3 sedans in 2016.</p>.<p>"Whoa … the stock is so high lol," Musk tweeted on Monday, after Tesla shares crossed the $420 mark. (http://bit.ly/2MD07Rt)</p>.<p>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.</p>.<p>The take-private tweet in August last year, at a time when Tesla was trading in the mid-$330s, had taken shares as high as $387. Later in the month, shares were closer to $320 amid intense regulatory scrutiny.</p>.<p>The U.S. Securities and Exchange commission fined Musk and Tesla $20 million each for the $420 tweet. 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.</p>.<p>Reuters reported earlier on Monday the company and a group of Chinese banks have agreed to a new 10 billion yuan ($1.4 billion), five-year loan facility for the automaker's Shanghai car plant.</p>.<p>Tesla shares rose over 3.6% in Monday's session and are up nearly 65% since the quarterly report in October. </p>