Using memes to communicate a point has become almost universal at this point. Even Elon Musk, CEO of Tesla, gets into it. He recently used a common meme phrase in reference to his company's stocks.

In a June 11 tweet, Musk simply wrote "lol." When he was asked by another user what the cryptic one word tweet was making reference to, he replied with just one word: "stonks."

Anyone who has spent time browsing through memes on Reddit or Instagram might be familiar with the often used misspelling of the word. It is often accompanied by an awkward image of a person in a suit with a stock line in the background.

Generally, it is used to make a joke about financial decisions or statements that don't seem to make any actual sense.

In this instance, however, it might be in reference to the Tesla stock, which Bloomberg reports closed out at a record US$1,025.05.

The rising prices put the company within about $20 billion of the world's most valuable car producer, Toyota.

Musk had previously made reference to the company's rising stock price in a May 1 tweet in which he wrote "Tesla stock price is too high imo."

Musk is no stranger to sharing memes on his Twitter feed, having posted several others over the course of the last few months. 

Some have been in reference to the current situation involving the worldwide pandemic and lockdown orders, while some are more esoteric.

The Tesla CEO had another massive accomplishment to add to his resume, with SpaceX becoming the first private company to transport astronauts to the International Space Station.

Musk also made plenty of headlines this year when he became a father. The bigger story, though, was the cryptic name that he and his wife, singer Grimes, gave their son.