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Tesla Inc (NASDAQ:TSLA) shares are trading higher Monday. The stock may be getting a boost as the company further signals its willingness to pursue traditional advertising.
What Happened: Tesla held its annual shareholder meeting at its Texas gigafactory last week. One of the biggest takeaways for analysts was the potential for the EV maker to start advertising.
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During the event, a shareholder suggested that the company could increase awareness about some of its unique vehicle features by exploring new marketing avenues, which could ultimately boost sales. CEO Elon Musk told the crowd he was willing to give more formal advertising a go.
"I share your sort of larger point, which is that there are amazing features and functionality about Teslas that people just don't know about ... I believe in taking suggestions, so, well, we'll try a little advertising and see how it goes," Musk said at the shareholder event.
Over the weekend, Tesla Asia posted a two-minute video on Twitter that suggests the company is starting to work on delivering on its advertising promise.
The video features a Model 3 owner talking about some of her favorite Tesla features. The video includes the tagline "drive to believe" and is presented in a more traditional advertising format.
Related Link: Did Tesla Just Foray Into Traditional Advertising?
TSLA Price Action: Tesla shares are trading at a one-month high, but the stock is still down more than 11% over the last three months.
Tesla shares were up 2.84% at $185.26 at the time of writing, according to Benzinga Pro.
Photo: courtesy of Tesla.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.