Elon Musk gets cryptic, Tesla stocks rise

Musk has been on Twitter again, but even the smallest of tweets can have big ripples around the investing world. In this case, three tweets sent Tesla stock up six per cent.
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Tesla's mercurial founder and CEO, Elon Musk, has sent Tesla stock soaring with a cryptic triptych of tweets.

We'll know more on Thursday 2pm, California time, but Musk – rebranded Elon Tusk on Twitter, naturally – has promised "Some Tesla news".

In most cases, that wouldn't be news. But after the tweet made its way around the world Tesla stocks rose by almost 6.0 per cent, proving Musk is still able to move markets with a few sweeps of his thumbs.

What the news actually is remains to be seen. Being an Elon Musk tweet, speculation has raged about what the news might be. Although fans of the brand have suggested we could be coming up for some Model Y news, we're also due a demonstration of Tesla's latest self-driving developments.

There is one more possibility, raised by Gene Munster, managing partner at venture capital firm Loup Ventures.

Speaking with Fairfax media, Munster said the announcement "is going to be about their debt, and may disappoint some investors who may have been expecting to get an update on the Model Y".

The tweets come after the US Securities and Exchange Commission (SEC) reportedly asked a judge to hold Musk in contempt for violating his settlement, after a tweet last week.

"He once again published inaccurate and material information about Tesla to his over 24 million Twitter followers, including members of the press, and made this inaccurate information available to anyone with Internet access," the SEC said in documents filed in Manhattan federal court.

Following the SEC's filing, Tesla shares fell by as much as 5.4 per cent as of Monday in New York.