Tesla Motors Inc. (NASDAQ:TSLA) shares rose briefly above $225 on Tuesday after a tweet from CEO Elon Musk stated a product announcement was coming at noon California time.
Some automotive industry observers suggest the announcement may have to do with self-driving technology. However, Musk gave no indication of what the new product might be.
The early excitement waned, but Tesla shares were still up 1.34% at $226.26 close to the mid-session.
Tesla is known for its innovative electric cars powered by lithium batteries which are helping transform the automotive industry.