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Tesla Shares Rise as Elon Musk Announces Big News, Drops as “News” Sets in

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In what’s become standard Elon Musk fashion, Tesla’s CEO announced on Twitter that he had product news coming.

Tesla Shares Rise as Elon Musk Announces Big News, Drops as “News” Sets in…

Tesla’s stock rises 2.5% with anticipation, finishes up 0.9% on the day.

That news?

Tesla’s already fast Model S Sedan and Model X SUV will be faster.

Once Musk announced the big news was a faster car that could travel farther, Tesla stock receded to finish up just 0.9% on the day.

While investors were unimpressed, fans of the new Model S P100 are excited. The luxury vehicle will be the fastest new car produced on an assembly line. The car will have 100 kilowatt-hour battery taking the car from stopped to 60 miles per hour in an astonishing 2.5 seconds, compared to the current P90D, which can go from zero to 60 in 2.8 seconds when in  “Ludacris mode”. The new model will also travel 315 miles on a single charge.

For customers who already own a P90D, they can upgrade to the P100D for $20,000. Those customers who have preordered but not received delivery of their cars can upgrade for $10,000. For those wanting their own P100D, the price tag is $134,500.

In June, Tesla introduced the cheaper Model S 60 with a running software which limited power by 20%. Customers could upgrade the Model S 60 to full power for $9,000 by “unlocking” the car’s extra capacity through a software upgrade. Expect to see more of the same with the P90D and P100D. All profits from the luxury models are funding the much-anticipated Model 3, an affordable Tesla vehicle, which should enter production late next year.

The Capitalist expects Tesla to stay even for now, but look for an uptick as the new model enters production.

Read this next: Apple Stock Prices Continue To Rise Amidst Struggles In Overseas Phone Market

 


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