This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tesla Pops on GM Rumor (Update 1)

Updated to include second Musk tweet about battery swapping.

NEW YORK ( TheStreet) -- Tesla Motors (TSLA - Get Report) shares rose 1.44% to $103.68 after market rumors suggested that General Motors (GM - Get Report) would start to license some of Tesla's technology for its vehicles.

The unsubstantiated rumors did not mention what technology GM would license in the deal. It is worth noting that Tesla has deals with both Daimler (DAI) and Toyota Motors (TM) to build power trains for both companies.

Tesla spokeswoman Shanna Hendricks said the company does "not comment on rumours or speculation."

Shares of GM were higher in Tuesday trading, up 0.8% to $34.00.

Tesla has kept up the positive press recently, and this week is shaping up to be no different. The Palo Alto, Calif.-based electric car company is going to demonstrate battery-swapping later this week, trying to help alleviate worries about consumers and "range anxiety."

CEO Elon Musk has long said the battery pack could be removed easily mid-journey, and the company plans to demonstrate just that. In a tweet, Musk announced the battery swapping demonstration will take place Thursday night at the company's design studio.

In a separate tweet, Musk noted the technology for battery-swapping works with all Model S vehicles, and the technology "was always there."

-- Written by Chris Ciaccia in New York

>Contact by Email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
GM $31.80 0.00%
TSLA $240.76 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs