Tesla Shares Rip Following Musk's Tweet About Today's Product Announcement

Shares of Tesla Motors Inc TSLA spiked sharply above the $225 level on Tuesday morning. CEO Elon Musk tweeted, "Tesla product announcement at noon California time today."

Musk has been known to move Tesla shares with just a single Tweet. Traders and investors hurried into the stock as soon as the Tweet hit at 11:23 a.m. ET. Shares hit an intra-day low of $222.80 but traded recently at $226.67, up about 1.3 percent on the day.

Related Link: 10 CEOs You Need To Follow On Twitter

Benzinga has contacted Tesla for comment on what the product could relate to.

Click here for a closer look into how the market reacts to Musk's twitter account.