Tesla Motors (TSLA) to Unveil Mysterious “D” on October 9th
Shares of Tesla Motors Inc. (TSLA) were trading up +8.59 or +3.58 percent to $248.83 per share in premarket trading on Thursday. The rise in the stock came after a Tweet from Elon Musk late yesterday alluding to the unveiling of a mysterious "D and "something else . Tesla stock closed at $240.24 per share, down -2.44 or -1.01 percent in Wednesday's regular trading session.
A Twitter post yesterday by Tesla's founder and Chief Executive Officer, Elon Musk said it was "About time to unveil a D and something else . Along with the Tweet was an attached graphic of a dimmed garage door with a "D on it and raised up just enough to see the outline of an automobile, along with the 9th of October date.
Many people speculate that Musk will be unveiling yet another new Tesla vehicle model. The company unveiled the Model X back in 2012 set to begin production next year. The Model X is an electrically powered vehicle combining features of an SUV and a Minivan.
Last July, Tesla announced its $35,000 Model 3vehicle, using a number in the form of three bars after Ford Motors threatened to sue if Tesla called it the Model E. Tesla's entry into the mainstream automobile market is not expected to be in production until 2017.
The release of a possible "Model D and "something else will occur at the Paris Motor Show. However, some people believe that the picture is of the lower part of a Model S. That the announcement will be for a revised version of the S Model, with a modification such as a dual motor, making the new Model S like the yet be released Model X SUV, which will feature all-wheel drive.
Finally, the "D and "something else could be new features that will be incorporated into the company's new OS 6.0 operating system, which will allow Tesla owners to start their cars with their iPhones. The D could stand for Driver Assist.
In a subsequent Twitter post, Musk wrote that "I love the Internet. Comments had me literally ROFL. No, it wasn't intentional. Glad I didn't mention the other letter! adding even more mystery to his previous post.
Tesla stock is trading at the higher end of its yearly range; the stock traded as low as $120 per share in late November of 2013 and made an all-time high of $291.42 in early September. At its current level, the company has a market capitalization over $30.25 billion. Despite having an EPS of -1.35 and many sore traders that shorted the stock, Tesla could continue gaining in the medium and longer terms.
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