Tesla Motors Inc Shares Spike After Elon Musk’s Tweet

Tesla stock
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Tesla Motors CEO Elon Musk tweeted plans to unveil a new product at the end of April, giving the EV manufacturer’s shares a boost. As of this writing, shares of Tesla were up 3.57% to $191.65 per share.

Tesla’s new product not a car

In his tweet, Musk specified that Tesla’s next product is not a car. He said described it as a “new product line:

What will Tesla show off?

Naturally talk now will center on what type of new product line it will be. Last month, he mentioned that they were close to launching a battery pack for the home. He also said the stationary battery pack would be ready to debut in the next few months. As a result, it seems likely that it is this new battery pack that we’ll be hearing about. The pack is meant to power an entire home, which seems like a tall order now. But if Tesla is ready to share more information about the pack, then we should learn exactly how the company is able to do that. Of course it’s also possible that Tesla will be unveiling something else entirely.

Elon Musk visits China

Also today, Elon Musk tweeted about his recent trip to China. He said he visited with President Xi and “many senior members” of the Chinese government.

Further, he said he is “very optimistic” about Tesla’s future in China even though sales there have been struggling. He recently threatened to fire their entire China team. Tesla also recently restructured its Chinese operations, signaling efforts to improve their sales in the world’s largest auto market.