Tesla Jumps After Musk Tweets to Promote Product Announcement
- Shares had slumped this year amid probes of fatal accident
- Sales missed second-quarter target; forecast lowered
Billionaire Elon Musk, chief executive officer of Tesla Motors Inc.
Photographer: Troy Harvey/BloombergThis article is for subscribers only.
Tesla Motors Inc. shares jumped after Chief Executive Officer Elon Musk tweeted that the electric-car maker will have a product announcement at noon California time.
Tesla jumped 2 percent to $227.45 at 11:53 a.m. after rising as much as 2.3 percent, the biggest intraday gain in two weeks. The shares had slumped 7.1 percent this year through Monday while the Russell 1000 index rose 6.8 percent.