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