"Tesla Inc. managed to pique the interests of investors with a series of social media posts that sent the carmaker's shares higher Monday. First, the company posted a video clip of a black hubcap-like object with a Tesla logo spinning before flashing the numbers 10/7, likely referencing a product unveiling on Tuesday. A second post appears to show a car parked in pitch-black darkness, revealing only its headlights. Tesla shares traded up as much as 4% shortly after the open in New York."
"The stock slumped late last week after the company posted a record quarter of car sales that will be difficult to replicate now that federal electric-vehicle subsidies have expired in the US. Tesla last added a new product to its lineup almost two years ago with the Cybertruck, and the polarizing pickup has been a disappointment. Executives have said a more affordable version of the Model Y is on the way to help buoy sales now that US EV tax credits have ceased."
Tesla posted brief social-media clips teasing a potential product reveal with a spinning hubcap-like object flashing "10/7" and a car shown only by headlights. The posts drove the stock up as much as 4% shortly after the New York open. The stock had fallen late last week after a record quarter of car sales that may be hard to repeat now that federal electric-vehicle subsidies have expired in the US. Tesla added the Cybertruck to its lineup nearly two years ago, and executives say a lower-cost Model Y will help support sales. A second-generation Roadster prototype was shown in 2017 and the company indicated an aim to ship it this year.
Read at www.mercurynews.com
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