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What Is Tesla's New Product Line?

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What Is Tesla's New Product Line?

Tesla Motors Inc (NASDAQ: TSLA) shares skyrocketed nearly 3 percent after CEO Elon Musk tweeted a "major" new product line will be revealed next month.

After trading nearly flat for most of Monday morning, the stock rose from $183.41 at 12:35 p.m. ET to just over $190 a share. Musk's message hit Twitter at 12:35 p.m.

Related Link: Tesla Is Attempting To Stabilize After Friday's Technical Breakdown

The tweet is just the latest in a string of public comments from Musk on the social media platform that have moved the stock. In mid-March, the CEO previewed an upcoming event he said would "end range anxiety."

In October 2014, Musk moved shares once again when he tweeted it was "about time to unveil the D and something else." That, of course, previewed the company's "D" model, a a dual motor Model S.

Perhaps the most telling tweet comes from Musk earlier this month:

What Is The New Product Line?

Most tellingly, Musk said consumer batteries for use in houses will happen "very soon" during Tesla's last conference call in February. At the time, he mentioned an unveiling could happen in a month or two, with the product hitting shelves in six months.

"[It's] really great," Musk added.

It's currently unknown if the April announcement is related to Musk's comments on the call.

 

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