Tesla’s stock jumped above US$1 000/share on Wednesday after CEO Elon Musk told his staff it was time to bring the Tesla Semi commercial truck to “volume production”.
Musk on Wednesday tweeted “Yes” to a question on Twitter about whether the report of the leaked Semi truck production email was accurate.
Investors are anticipating Musk will unveil new ‘million-mile’ battery technology that could deliver longer life, lower costs and better range
The stock also got a boost from a bullish call by Wedbush, which lifted its target price for the automaker to $1 000 and said Tesla could have “more room to run”.
Nikola, Tesla
When Musk unveiled the prototype of the futuristic, battery-powered Semi in 2017, he said the Class 8 truck would go into production by 2019.
Elon Musk
Shares in Nikola have more than doubled in price over the past week as the company’s CEO has used Twitter and interviews to promote plans to launch an electric pickup truck to Tesla’s forthcoming Cybertruck.
