Tesla shares jump following Elon Musk tweet

  @jtotoole March 25, 2013: 6:16 PM ET
tesla shares 2

Click the chart for more info.

NEW YORK (CNNMoney)

Apparently some Tesla investors don't mind getting their stock tips in less than 140 characters.

Tesla (TSLA) shares jumped Monday afternoon after Elon Musk, CEO of the electric-car maker, tweeted that there was a "Really exciting @TeslaMotors announcement coming on Thursday."

"Am going to put my money where my mouth is in v major way," Musk tweeted, potentially alluding to a new project or round of investment for the company.

A Tesla spokeswoman declined to provide further information on the planned announcement.

Shares closed at $37.51, up 2.4%, after having jumped to $38.40 shortly after Musk's tweet.

There are some risks for executives who use social media to talk about their companies. In December, online streaming service Netflix (NFLX) revealed that it was facing investigation from the Securities and Exchange Commission because CEO Reed Hastings had posted information about the company on his Facebook (FB) page.

In a post on July 5 of last year, Hastings said that Netflix customers were viewing more than 1 billion hours of video content a month. The post was widely reported and Netflix stock rose 13% that day.

Tesla Model S: Test drive D.C. to Boston

Musk is an active presence on social media, with over 167,000 Twitter followers. He made headlines earlier this year when he responded to a negative review of Tesla's Model S in the New York Times with a detailed blog post challenging the article's veracity.

A serial entrepreneur who co-founded PayPal and also heads the commercial space exploration firm SpaceX, Musk has already invested a portion of his own fortune in Tesla over the years to help the company grow.

CNNMoney's Peter Valdes-Dapena contributed reporting. To top of page



Join the Conversation
Markets
Sponsored by
Index Last Change % Change
Dow 16,424.85 162.29 1.00%
Nasdaq 4,086.23 52.06 1.29%
S&P 500 1,862.31 19.33 1.05%
Treasuries 2.64 0.01 0.34%
Data as of 12:46am ET
Company Price Change % Change
Bank of America Corp... 16.13 -0.26 -1.59%
Facebook Inc 59.72 0.63 1.07%
Yahoo! Inc 36.33 -0.02 -0.06%
Intel Corp 26.93 0.16 0.60%
Alcoa Inc 13.42 0.37 2.84%
Data as of Apr 16
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.41%4.44%
15 yr fixed3.33%3.31%
5/1 ARM3.34%3.55%
30 yr refi4.39%4.41%
15 yr refi3.31%3.30%
View rates in your area
 
Find personalized rates:
Rate data provided
by Bankrate.com
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.