Tesla Inc (NASDAQ: TSLA) is having a relatively strong start to the trading session, and for good reason. Elon Musk surprised investors with the unveiling of a new car, and that care is a big game changer. Today, we'll talk about the new product offering, how the stock is reacting to the news, and what we'll be watching for with regard to TSLA ahead.
TSLA Unveils Its New Roadster
As mentioned above, late yesterday after hours, Tesla surprised investors when Elon Musk unveiled a new roadster. The new vehicle wasn't only a surprise, it's a first in its class offering. The new vehicle, known as the Roadster is a record-breaking car as soon as it comes off of the line.
In fact, the TSLA Roadster will be the fastest production vehicle on the road. The car is capable of going from 0 to 60 in just 1.9 seconds; breaking the 2 second barrier for the first time ever in a production vehicle.
However, if you want a Roadster from TSLA, you're going to have to pay for it. The car comes with a base price of $200,000. At the moment, you can reserve one of these vehicles for $50,000. If you want to go up a notch, Tesla is also launching the Founders Series Roadsters. These vehicles will be limited to the first 1,000 reservations and comes with a price of $250,000.
The game changing part of this is that this isn't only going to be the fastest production vehicle on the road. As with all TSLA vehicles, the Roadster is an electric car. The fact that the car can go from 0 to 60 in 1.9 seconds and doesn't burn gasoline to do so is absolutely astounding and what Elon Musk calls a smackdown to gasoline powered vehicles.
How The Stock Is Reacting To The News
As investors, we've come to expect that when positive news is released surrounding a publicly traded company, we can expect to see gains in the value of the stock that represents the company. That's exactly what we're seeing out of Tesla today. With the new product offering on the minds of investors, the stock is making a run for the top. At the moment (9:06), TSLA is trading at $325.87 per share after a gain of $13.37 per share or 4.28% thus far today.
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What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on TSLA. In particular, we're interested in following the story surrounding the Roadster and excited to see how many of the new vehicles are sold. Nonetheless, we'll continue to follow the story closely and bring the news to you as it breaks!
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