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"CEO Elon Musk’s suggestion ... that he wanted to take Tesla private at $420 a share, putting a value of $72 billion on the carmaker, had some investors wondering whether ... Wall Street has become overheated after nearly a decade of gains following the 2008 financial crisis," Reuters' Noel Randewich reports.
What they're saying: Mike O’Rourke, chief market strategist at JonesTrading, in a client note: "A mega-LBO [leveraged buyout] of a company notorious for its cash burn rate would be the clear sign that this is the ultimate market top. ... This is the type of behavior often witnessed at market extremes."