Tesla To Reveal Unexpected Product Cloaked In Mystery On October 17th
The share price for Tesla Motors is up nearly 3 percent today after company founder and Chief Executive Officer Elon Musk announced a mysterious product unveiling scheduled for next week. Musk didn't say what exactly Tesla has in store, only that whatever it is, it will be "unexpected by most." He also said it will be separate from a Tesla/Solar City product unveiling scheduled for October 28th.
Musk's social media post leaves the field wide open for practically anything. He previously indicated that the October 28th event will feature a solar roof product developed by Tesla and SolarCity, plus a new Tesla car charger and an integrated second generation Tesla Powerwall solar storage battery. Since whatever Musk and the gang have planned for October 17th will be "unexpected by most," we can reasonably assume it will none of the those things.
Tesla product unveiling on the 17th (unexpected by most), followed by Tesla/SolarCity on the 28th— Elon Musk (@elonmusk) October 9, 2016
In a previous Twitter post, Musk said part two of the Model 3 launch would "take things to another level" and happen closer to production. That could mean that Tesla's planning to infuse its Auto Pilot technology into the Model 3, or it could mean something else entirely.
Whatever Musk and Tesla have up their sleeves, there won't be a need to raise equity or debt in the fourth quarter. Musk clarified as much in yet another Twitter post following a filing with the U.S. Securities and Exchange Commission on Friday that said the opposite.
"While Tesla expects that its current sources of liquidity, including cash and cash equivalents, together with its current projections of cash flow from operating and retail financing activities, will provide it with adequate liquidity based on its current plans through at least the end of the current fiscal year, Tesla is currently planning to raise additional funds by the end of this year, including through potential equity or debt offerings, subject to market conditions and recognizing that Tesla cannot be certain that additional funds would be available to it on favorable terms or at all," Tesla stated in its filing.
In any event, the hype and anticipation leading up to Tesla's product launches continue to rise, as does its stock.