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Tesla (TSLA) Stock Up Nearly 4% After Elon Musk's TED Talk
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Shares of Tesla, Inc. (TSLA - Free Report) are up again on Monday on the back of CEO Elon Musk’s continued push towards a science fiction-style future, which now includes cars traveling through underground tunnels at speeds of over 100 mph.
Musk pontificated about the future he and his many ventures intend to build during a TED talk last Friday. The ever-present CEO showed for the first time his plans to build a network of underground tunnels throughout cities in order to alleviate heavy traffic.
In a series of video renderings, Musk demonstrated how his Tesla electric cars might one day drive onto small platform parking spots that lower drivers—elevator-style—into underground passageways. The cars will then travel at roughly 130 mph on these small platforms through a series of tunnels. “We’re trying to dig a hole under LA,” Musk said during his TED talk. “You should be able to get from Westwood to LAX in about six minutes.”
But before Musk and his new company, The Boring Company, are able to make this possible, the cost of tunneling will have to go down drastically. “It’s roughly a billion dollars a mile to do the subway extension in LA,” Musk continued.
Tesla’s CEO went on to discuss his plans for electric semi trucks and what it will be like when people actually use self-driving cars in a few years.
Tesla’s stock price moved up 3.95% to $326.55 per share in early afternoon trading on Monday. The electric car-making giant is a Zacks Rank #2 (Buy).
On top of Musk’s tunnel plans and electric vehicle push, he touched on why it is so important that another one of his companies, SpaceX, actually reaches Mars.
And on Monday, SpaceX took another step forward in its grand plans to travel beyond earth’s atmosphere.
Launch and landing of the NRO spy satellite was good. Tough call, as high altitude wind shear was at 98.6% of the theoretical load limit. pic.twitter.com/nBzBMNdjBp
Early this morning, SpaceX launched its Falcon 9 rocket from Florida’s Kennedy Space Center, carrying classified cargo from the Pentagon’s National Reconnaissance Office. Neither SpaceX nor the U.S. spy agency commented on what exactly Musk’s private company took into orbit.
The Monday flight was Falcon 9’s fourth successful flight since it returned to service in January after a September launchpad explosion.
Tesla is set to report its first-quarter 2017 earnings on Wednesday, May 3. For more information on Telsa’s upcoming earnings report check out: Will Tesla's (TSLA - Free Report) Q1 Earnings Beat on Higher Unit Sales?
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Tesla (TSLA) Stock Up Nearly 4% After Elon Musk's TED Talk
Shares of Tesla, Inc. (TSLA - Free Report) are up again on Monday on the back of CEO Elon Musk’s continued push towards a science fiction-style future, which now includes cars traveling through underground tunnels at speeds of over 100 mph.
Musk pontificated about the future he and his many ventures intend to build during a TED talk last Friday. The ever-present CEO showed for the first time his plans to build a network of underground tunnels throughout cities in order to alleviate heavy traffic.
In a series of video renderings, Musk demonstrated how his Tesla electric cars might one day drive onto small platform parking spots that lower drivers—elevator-style—into underground passageways. The cars will then travel at roughly 130 mph on these small platforms through a series of tunnels. “We’re trying to dig a hole under LA,” Musk said during his TED talk. “You should be able to get from Westwood to LAX in about six minutes.”
But before Musk and his new company, The Boring Company, are able to make this possible, the cost of tunneling will have to go down drastically. “It’s roughly a billion dollars a mile to do the subway extension in LA,” Musk continued.
Tesla’s CEO went on to discuss his plans for electric semi trucks and what it will be like when people actually use self-driving cars in a few years.
Tesla’s stock price moved up 3.95% to $326.55 per share in early afternoon trading on Monday. The electric car-making giant is a Zacks Rank #2 (Buy).
On top of Musk’s tunnel plans and electric vehicle push, he touched on why it is so important that another one of his companies, SpaceX, actually reaches Mars.
And on Monday, SpaceX took another step forward in its grand plans to travel beyond earth’s atmosphere.
Early this morning, SpaceX launched its Falcon 9 rocket from Florida’s Kennedy Space Center, carrying classified cargo from the Pentagon’s National Reconnaissance Office. Neither SpaceX nor the U.S. spy agency commented on what exactly Musk’s private company took into orbit.
The Monday flight was Falcon 9’s fourth successful flight since it returned to service in January after a September launchpad explosion.
Tesla is set to report its first-quarter 2017 earnings on Wednesday, May 3. For more information on Telsa’s upcoming earnings report check out: Will Tesla's (TSLA - Free Report) Q1 Earnings Beat on Higher Unit Sales?
Looking for Ideas with Even Greater Upside?
Most of Zacks’ investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more. Click here for a peek at this private information>>