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The latest data from Ticker Tags is more good news for Tesla Motors Inc (NASDAQ: TSLA) shareholders. Social media is buzzing about the newly-unveiled Model 3, and sentiment is overwhelmingly positive.
Ticker Tags monitors social media sites to identify trends by searching for words or phrases that appear together in social media content, such as tweets.
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Tesla is hoping that the Model 3’s $35,000 anticipated starting price will make it the first electric vehicle in the market with mass appeal. Within the first 24 hours of its unveiling, Tesla received 198,000 Model 3 reservations.
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Tesla’s luxury Model X has been a huge hit for the company so far, but data shows that the number of social media mentions of the Model 3 on its release date was about 240 percent higher than mentions of the Model X when it was unveiled.
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Overall baseline mentions of the Model 3 are now 550 percent higher than those of the Model X. Perhaps much more importantly for Tesla, the data shows that social media sentiment regarding the Model 3 is almost exclusively positive.
General Motors Company (NYSE: GM) is hoping that its similarly-priced Bolt EV, which is expected to beat the Model 3 to market, will be able to take on the Model 3 head-on. The data shows that the Bolt may have a major PR hurdle to clear.
Disclosure: the author holds no position in the stocks mentioned.
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.