Tesla Motors Gets A Charge Off Potential Move Into Energy Storage Market

'' Tesla Motors Inc.

shares are trading higher by $10 at $219.41 in Wednesday's session. The catalyst for the rally is the prospect for the company becoming a leader energy storage. A Deutsche Bank analyst, Rod Lache, is speculating that its upcoming product announcement may be geared towards this arena. Investors are not waiting for the April 30 unveiling and are aggressively purchasing since the opening bell. After a modestly higher open of $212.50 vs. Tuesday's close of $209.41, it only retreated to $211.69 before exploding to $220.44. That marks the first time the issue has traded over $220 since it put in a pair of highs on February 5 ($225.48) and February 6 ($223.40). It has not closed above $220 since the February 5, when it ended the session at $220.99. It should be noted that today's rally is taking place on much higher than its 20 day average volume of 4.82M shares. So far it has already traded 4.6M shares with over four hours remaining in the trading day.