Elon Musk Tweets About "Exciting Announcement", Tesla Shares Rise
Elon Musk is preparing a "really exciting announcement" about his company next week, the Tesla Motors CEO has revealed on Twitter.
"Really exciting Tesla Motors announcement coming on Thursday. Am going to put my money where my mouth is in v major way," Musk tweeted Monday, later updating to timing for next Tuesday in order "to ensure no end of quarter distractions".
Musk's overanxious tweet, that's believed to have something to do with the automaker repaying some of its government loans, has caused Tesla shares to increase by 3.6 percent on Monday.
Two weeks ago we were reporting that Tesla Motors has received federal approval to complete the repayment of its $465 million in US Energy Department loans five years ahead of schedule (2017 instead of 2022). Consequently, Tesla had to delay production plans for the Model X electric crossover by one year. The vehicle was scheduled to hit the production line later this year.
Story via Autoblog