Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk is well known for his tweets about unveiling new products. Not for the first time, Musk has tweeted earlier today that Tesla Motors Inc (NASDAQ:TSLA) will be unveiling its new product on April 30 and he added that this new product is not a car. He mentioned in his tweet that it will be unveiled in Tesla Motors Inc (NASDAQ:TSLA)’s Hawthorne Design Studio at California. CNBC’s Sue Herera reported on Musk’s tweet and speculated on what the new product line could be.
Tesla Motors Inc (NASDAQ:TSLA) CEO, Elon Musk tweeted about a new major product line, which is not a car. What could a company like Tesla Motors Inc (NASDAQ:TSLA) come up with? Is it something from the hobby projects of Musk? Or is it something related to the new gigafactory?
“Major new Tesla Product line – Not a car – will be unveiled at our Hawthorne Design Studio on Thurs, 8pm, April 30,” Musk Tweeted.
Herera reminded that Musk was saying a couple of things in February. Firstly Musk said at that time that he was pretty optimistic about Tesla Motors Inc (NASDAQ:TSLA)’s future in China and secondly he talked about a home battery system.
So Herera speculated that this new major product line of Tesla Motors Inc (NASDAQ:TSLA) could be a home battery, if it’s not a car as Musk tweeted.
As Musk’s tweet reached public, Tesla Motors Inc (NASDAQ:TSLA) stock has shot up by more than 2.5% and is currently trading above $190 per share.
“We want to bring to people’s attention that back in February, Mr. Musk saying that, 1. He was very optimistic about Tesla’s long term future in China and one of the things that they were working on developing would be a home battery system. So we know that he is just tweeted out that this new device or invention will not be a Car, but there is a speculation that perhaps this is the home battery system that he mentioned back in February. We don’t know, but the stock [..] is moving on. It was up a little bit, better than 2% [..]. So just a little speculation on what perhaps he has talked about before,” Herera reported.
Be it a home battery, or some other new kind of product line that Musk has come up with, the important thing to observe is that can this new product bring back some momentum to Tesla Motors Inc (NASDAQ:TSLA) stock and get it up and above $200 mark?
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