Elon Musk posted one tweet and Tesla shares went haywire

Major new Tesla product line — not a car — will be unveiled at our Hawthorne Design Studio on Thurs 8pm, April 30

— Elon Musk (@elonmusk) March 30, 2015

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Musk’s tweet added some $900 million to Tesla’s market capitalisation, a measure of the size but not necessarily the worth of a company.

Source: Thomson Reuters The message has since been retweeted over 7000 times, prompting speculation about the new mystery product. Many believe it is a home battery that can power houses and help large-scale utilities store energy more efficiently. Musk said in February that his plans for a home battery were complete and would be unveiled in a couple of months.

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An April Fools ’ Day prank prompted another share wobble on Wednesday. A press release announcing the release of yet another new product – the Tesla Model W captioned ‘It’s a watch. That’s what the W stands for’ – was revealed as fake, but not before the stock got a 0.75 per cent boost. Nearly 400,000 shares were traded before the stock retraced again.

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