Tesla Shares Up After CEO Makes Twitter Announcement image

Tesla’s shares climbed the most in almost five weeks after CEO Elon Musk posted on Twitter that the automaker will make an ‘exciting’ announcement this week.

“Really exciting @TeslaMotors announcement coming on Thursday,” Musk wrote yesterday in a message on his verified account, which has more than 168,000 followers. “Am going to put my money where my mouth is in v major way.” Last night, he wrote a follow-up post: “Slight change of date to ensure no end of quarter distractions — will be Tues next week.”

Tesla announced earlier this year it plans to turn profitable by the end of this quarter, sell 20,000 Models S vehicles in 2013 and repay the loan of $465 million to the US Energy Department, offered to develop and manufacture its EVs by December 2017. At the close yesterday in New York, Tesla shares increased 2.5% to $37.53.

Shanna Hendriks, the company’s spokeswoman, said that the automaker will not be present at this year’s New York International Auto Show and that Tesla is “still working out the details of the announcement.” A similar announcement from Musk was posted on Twitter in December, when he said that the automaker was cash flow positive in the last week of November. The company hasn’t yet reported a quarterly profit in its three years as a public company.