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Tesla Traders Sell The News Of Model S, Model X Updates

Tesla Traders Sell The News Of Model S, Model X Updates
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Shares of Tesla Motors Inc (NASDAQ: TSLA) spiked sharply 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. Shares hit an intra-day low of $222.80 but traded as high as $228.49, up more than 2 percent on the day.

So what was the big announcement? A a new version of Tesla's Model S and Model X vehicles.

Related Link: Tesla's 100 kWh Battery Pack: 'Rumors Are Accurate,' Says Chowdhry

Tesla says its Model S P100D with Ludicrous mode is the fastest production car in the world, in terms of acceleration, with a 100 kilowatt hour battery, with a 315 mile EPA range.

"I think this is going to send a great message to the public that sustainable transport is the future," said Musk. The Model X P100D (also with Ludicrous mode) is built to go from 0 to 60 miles per hour in 2.9 seconds and will be able to travel 289 miles on a single charge.

The Model S will start at $134,500 and the Model X will start at $135,500.

Shares traded recently at $224.63, up about 0.7 percent on the day.

Click here to see how Elon Musk's tweets impact Tesla's stock.

Posted-In: Elon MuskNews Events Tech Best of Benzinga


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