Tesla Shares Rise (Again) After Model 3 Reservations Pass 200,000

Shares of Tesla Motors Inc TSLA were trading higher by more than 4 percent early Friday morning.

Investors and traders appear to be bullish on the stock following encouraging tweets by Tesla's CEO, Elon Musk.</p<>

Musk tweeted over the weekend that Tesla received 276,000 Model 3 pre-orders. Each pre-order comes with a fully refundable $1,000 deposit – implying the company has essentially secured a $276 million interest free loan from its anxious buyers.

Related Link: Chowdhry: Tesla Has Made $7.5 Billion In 24 Hours From Model 3

In a separate tweet over the weekend, Musk said he will provide a final Model 3 update on Wednesday. He added that "all efforts focused on accelerating the ramp."