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.

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.

276k Model 3 orders by end of Sat

— Elon Musk (@elonmusk) April 3, 2016

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."

Will give an update tonight for the 3 day total, then last one on Wed for the full week. All efforts focused on accelerating the ramp.

— Elon Musk (@elonmusk) April 2, 2016