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Tesla stock just got a strong signal from CEO Elon Musk. But is it to buy or sell?
Yesterday (Sunday) the Tesla Motors Inc. (Nasdaq: TSLA) boss sent out this tantalizing tweet:
Tesla press conf at 9am on Thurs. About to end range anxiety … via OTA software update. Affects entire Model S fleet.
— Elon Musk (@elonmusk) March 15, 2015
"Range anxiety" refers to the fear electric car drivers have of running out of juice on longer trips and having no place nearby to plug in for a recharge. It's a big reason why all-electric cars like Tesla's have not made much headway against autos with gasoline engines (well, that and the $70,000 starting price for the Model S).
Investors were certainly intrigued. Tesla stock rose 3.72% to $195.70 Monday.
So is Musk about to announce a breakthrough that will supercharge the TSLA stock price? Or is this a desperate bid for attention from a company that's seen its stock price plunge more than 30% since September?
Watch the video below to find out…
More on Tesla: TSLA stock has been very volatile in 2015. And the company's goal of mass-producing electric cars seems like a far-fetched dream. But there's more to Tesla than many investors realize. This is a risky stock, but one that could pay off in a big way…