Canox HK - Elon Musk hints at a cybertruck, but he doesn't give any details

Tesla (TSLA) looks to be getting closer to unveiling its much-anticipated Cybertruck, with Elon Musk tweeting a photograph of a "production candidate" on X, previously known as Twitter
SHEUNG WAN, Hong Kong - Sept. 5, 2023 - PRLog -- TSLA gained gains on Thursday morning.

On Wednesday, Musk uploaded a photo of himself in the Cybertruck at the EV giant's Texas plant. During premarket trading on Thursday, Tesla shares rose 1.8%. On Wednesday, the S&P 500 gained 1.6% to 236.86, making it three consecutive sessions of gains.

"Just drove the production candidate Cybertruck at Tesla Giga Texas!" Musk worked on X. In a separate article, Elon Musk said that he feels the Cybertruck is Tesla's "best product ever."

Musk promised a Cybertruck delivery event at the conclusion of the third quarter in April. Musk, however, did not provide a date for the event or any other details about the car on Wednesday.

"We will do so when we are ready," Musk wrote on X. "It's a very difficult product to build." We're in unknown terrain since it's unlike anything else."

Tesla Stock Price Movement

After a three-week fall, TSLA stock is up approximately 10% for the week. Tesla stock has surged more than 11% in August.

After the carmaker published second-quarter financials on July 19, shares initially fell. Investor fears about declining gross margins overcame the global EV giant's higher-than-expected profits and sales. The news of Cathie Wood's ARK Invest ETF sales may have further spurred some negative momentum.

Last week, Tesla shares fell more than 11% to 215.49, the sixth straight drop. Tesla shares broke through support at the firm's 50-day moving average two weeks ago. According to IBD research, TSLA then plummeted more than 2% below the 10-week line, indicating a definite sell signal.

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