Tesla share price rises as Elon Musk tweets on ‘Master Plan 3’

Tesla share price rose by four per cent recently after Musk tweeted on future prospects.
By : HT Auto Desk
| Updated on: 19 Mar 2022, 09:59 AM
File photo of Tesla cars parked outside a facility in Germany. (AP)
File photo of Tesla cars parked outside a facility in Germany. (AP)
File photo of Tesla cars parked outside a facility in Germany. (AP)
File photo of Tesla cars parked outside a facility in Germany.

A tweet and day may have an impact on stock prices - one way or another. Especially if the tweet comes from Elon Musk and it is the Tesla share's fate that are in question. And so it was when Musk recently tweeted on a ‘Master Plan 3’ recently, it had a near-immediate positive impact on Tesla share prices.

Similar Cars

Find More Cars
Tata Tigor Ev (HT Auto photo)
Tata Tigor Ev
Electric | Automatic
₹11.99Lakhs*Onwards
Tata Altroz Ev (HT Auto photo)
UPCOMING
Tata Altroz Ev
₹ 12 to 15 Lakhs Expected Price*
Tata Nexon Ev (HT Auto photo)
Tata Nexon Ev
Electric | Automatic
₹13.99Lakhs*Onwards
Mg Zs Ev (HT Auto photo)
Mg Zs Ev
Electric | Automatic
₹21Lakhs*Onwards
Mg Zs Ev 2022 (HT Auto photo)
Mg Zs Ev 2022
Electric | Automatic
₹21.99Lakhs*Onwards

Tesla share price rose by four per cent recently after Musk tweeted on future prospects. “Working on master plan part 3," was a one-line tweet from the Tesla CEO. But while it was typically short and devoid of any additional details, it worked in favour of Tesla share price which rose by $ 33.79 to $ 905.39.

But while what and when Musk tweets has an impact on Tesla share prices, the recent rise may also have been powered by the company's decision to resume production at its Shanghai facility. There had been a two-day pause announced here in order to meet with the guidelines issued by local authorities battling rising cases of Covid-19 here and in many other parts of China.

China has reported more Covid-19 positive cases this year than it had in all of 2021. Alarm bells have been sounded out in cities like Changchun and Shenzen, apart from Shanghai. The Tesla Shanghai facility - also called Gigafactory 3, is the first Tesla facility outside of the US and caters to not only the local market but units from here are exported to Europe as well. Model 3 sedan and Model Y crossover SUV are manufactured here.

First Published Date: 19 Mar 2022, 09:59 AM IST
Recommended For You
View All
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking VIEW OFFERS you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city