Tesla shares rise on Elon Musk’s tweet about “exciting” announcement
Tesla chief Elon Musk is making a major announcement next week, and here’s guessing it’s not another salvo about what a bad job that reporter from The New York Times did writing up the Tesla Model S.
“Am going to put my money where my mouth is in v major way.” – Elon Musk
“Am going to put my money where my mouth is in v major way,” Musk tweeted Monday, saying there would be an “exciting” announcement on Thursday. Later on Monday, Musk updated the timing of the statement to next Tuesday in order “to ensure no end of quarter distractions.” Tesla shares rose 2.5 percent in Nasdaq trading Monday and were up another 1.2 percent after hours.
Seeking Alpha wonders if Musk may have another stock offering and will use some of the cash to pay off its government loans. Late last month, Musk said he’d cut his company’s slated 10-year timetable to pay back its $465 million US Energy Department loan in half because of better-than expected results, including what Musk said would be Tesla’s first-ever profitable quarter in the first three months of 2013.
Either way, the Tweets are more sanguine than the blasts Musk sent out after a reporter from The New York Times said in a write up last month that the single-charge range in the all-electric Model S is far less than advertised. Some Tesla owners and a few other publications backed Musk’s assertion that the reporter was sloppy in his record keeping and a Times editor allowed that some missteps may have been made in the review.
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By Danny King