Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Here’s How Tesla Motors Inc (TSLA) April Fooled The Market

It may only be Tesla Motors Inc (NASDAQ:TSLA) that is able to produce the kind of market move they made yesterday with just an April Fools joke. According to Ingrid Lunden of TechCrunch, the nature of the company and its high-profile founder and CEO Elon Musk was why the company’s stock actually moved up with volume going up during the last minutes of trading yesterday after the car maker announced its “Model W” product.

People could have just been very quick to pull the trigger, suggesting they may have not even read the official press release for “Model W,” Lunden tells CNBC. Add to that the reputation the company and its chief executive have and you have a perfect storm.

“First of all, Elon Musk [is] a real moonshot kind of guy, right? He is always putting out these crazy, crazy ideas [like the] Hyperloop, even the [Tesla] cars, and SpaceX. When you think about all of these things together, everyone is a little trigger happy, when it comes to Tesla and things that they might say,” Lunden says in the discussion.

“Model W” is, in fact, a fictional product, as readily apparent in Tesla Motors Inc (NASDAQ:TSLA)’s own announcement which it released with about five minutes to spare before the stock market closed on April Fool’s day. That did not stop the stock, however, from getting a boost. From a joke, no less.

According to Fortune, the minute after Tesla Motors Inc (NASDAQ:TSLA) posted the release on their site, the stock jumped by about 0.75% or about $1.50. nearly 400,000 shares also changed hands in that time frame, the publication notes.

Lunden says that “people are almost ready to believe anything when it comes out of” Elon Musk’s mouth. True enough, this might be the case with yesterday’s prank from the company.

Tesla, is TSLA a good stock to buy, Ingrid Lunden, NASDAQ:TSLA,

The international editor says, however, that Tesla Motors Inc (NASDAQ:TSLA) and other companies get a pass on April 1 for the jokes they make. The same goes for people for misreading announcements this day, she says.

As for a product that is real, the automaker moving into the home with a battery pack may be a smart move. In fact, Lunden says that this is something the company needs to do to expand the application of their technologies.

She adds that the game-changing development the is waiting for is not the increase of ways the cars are charged but when the price of the cars the company makes fall.

Daniel Benton’s Andor Capital Management owned 1.25 million Tesla Motors Inc (NASDAQ:TSLA) shares by the end of December.

I just made 84% in 4 daysI Just Made 84% in 4 Days By Blindly Following This Hedge Fund

I just made 84% in 4 days by blindly imitating a hedge fund’s stock pick. I will tell you how I pulled such a huge return in such a short time but let me first explain in this FREE REPORT why following hedge funds’ stock picks is one of the smartest things you can do as an investor. We launched our quarterly newsletter 2.5 years ago and not one subscriber has, since, said ‘I lost money by EXACTLY following your stock picks’. The reason is simple. You can beat index funds by creating a DREAM TEAM of hedge fund managers and investing in only their best ideas. I just made 84% in 4 days by blindly imitating one of these best ideas. CLICK HERE NOW for all the details.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.