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Tesla shares get a jolt

April 16, 2013: 1:04 PM ET

Tesla's stock is on a tear this year.

Talk about electrified.

Shares of electric car maker Tesla spiked 6% Tuesday, nearly hitting a new high, on heavy trading volume.

Tesla generated a lot of buzz last month after CEO Elon Musk tweeted about a game changing announcement.

The news (which hit the airwaves last week)? Allowing buyers to purchase the Tesla Model S plug-in without making a large down payment, and with the ability to sell it back at a guaranteed value after three years.

The reaction? A big dud, with shares falling more than 7%.

Still, it's not like Tesla's stock is suffering. Shares are up more than 28% this year. And let's be honest. The company isn't doing too poorly either.

Earlier this month, Tesla said it expected to announce its first quarterly profit ever when it reports earnings next month. Sales of the Model S are expected to be a big driver.

While there may not be any tangible news behind Tuesday's surge, StockTwits traders had plenty to say.

$TSLA pretty much at all-time highs...Tesla wants to lead the market and its the right company to do it (long) Bullish

You said it howardlindzon. Not only is Tesla poised to report its first profit, it's trying to making some new moves in Texas.

CEO Elon Musk was recently making the rounds in the Lone Star State to make a case for selling cars directly to consumers. Tesla has galleries in Austin and Houston but no franchise dealerships.

$TSLA just upgraded to the race track... Bullish


There is a strong underlying bid for $TSLA. It is shaping out to be one of the leading stocks in 2013

Not entirely sure if chicagosean was referring to the stock but given the 28% run this year, I'm with ivanhoff.

Just take a look at how the stock has done since 2011.... shares have rallied almost 70%.

$TSLA With such a huge short interest, $50s could happen in a flash. Not a stock to be short right now. On the verge.

Good point smarterthanyou (and nice handle too). Shorts coming in to cover could be part of the reason behind Tuesday's spike. (Short sellers borrow shares with plans to sell when the stock goes down.)

But it doesn't explain the longer term gains. I think there are still some good fundamentals driving Tesla forward.

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Catherine Tymkiw
Catherine Tymkiw
News Editor CNNMoney

Catherine Tymkiw is a news editor at CNNMoney where she helps oversee breaking news coverage and futures planning. Previously, she was the investing editor. Prior to joining CNNMoney, she was the online editor at Crain's New York Business and has nearly two decades of reporting and editing experience. She tweets @ctymkiwcnn

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