Tesla, SolarCity Shares Edge Higher Following Musk Tweet About Solar Roof Unveiling
Tesla Motors Inc (NASDAQ: TSLA) seems to always be in the news, left, right and center, the latest being a Tweet from the man himself.
Elon Musk said in a teaser Tweet that October 28 is the D-day for the unveiling of Tesla/SolarCity Corp (NASDAQ: SCTY) new solar roof product with an integrated Powerwall 2.0 battery and a Tesla charger.
Musk Tweeted, "Aiming for Oct 28 unveil in SF Bay Area of new Tesla/SolarCity solar roof with integrated Powerwall 2.0 battery and Tesla charger."
Shares of SolarCity spiked up 2.67 percent to $18.78, while Tesla's shares were up a more modest 0.69 percent at $206.64.
Though not all are confident the event will materialize on said date, given the deadline misses in the past, all are unequivocal in believing that we will soon see a combined product. The announcement comes at a time when there is opposition from shareholders over the viability and logic of a Tesla-SolarCity deal.
The roof, set to be unveiled in San Francisco Bay Area, would give shape to Musk's vision of building green homes using solar energy and battery storage to help charge power systems, including the electric cars. The roofing product discussed uses solar technology without having to fall back on the standard photovoltaic panels.
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