Tesla Stock Prices Leap After Self-Driving Semi and Pickup Tease
Shares have now went over $300 per.
Because of Elon Musk's marketing aptitude, Tesla tends to get investors excited. The Tesla founder doesn't hold back on risk and puts the company's ambitions on full display, and it seems as if those with the extra capital seem to dig that attitude. He recently took to Twitter to tease the development of a self-driving Tesla semi and pick-up truck as he claimed that they're already in the works. Following this announcement from the automaker's CEO, stocks rose to $304.98 per share—a total increase of $8.14, or 2.74 percent, according to Reuters.
Investors apparently see these new additions to the Tesla lineup as big money makers. Not only that, the two vehicles are coming soon according to Musk, claiming "Tesla Semi truck unveil set for September ... Team has done an amazing job. Seriously next level." The electric pickup is also just 18 to 24 months away, meaning that now may be a better time than ever to jump on the Tesla bandwagon.
This brings the year-to-date increase to a total of 41 percent, an astounding number for the company. The Tesla brand is expected to turn profitable once Model 3 production reaches full swing, propelling them to build a hoped-for 500,000 cars per year. Some skeptics still claim that Tesla is overvalued, saying that it will be overtaken by the other American staples like General Motors and Ford. However, other analysts claim that Tesla's stock and evaluation is correct based on long-term applications. Musk doesn't much care for the naysayers, though, smugly telling them to go buy Ford stocks if they'd rather.