Tesla Stock Surges on Leaked Musk Email And Biggest Ever Software Update (TSLA)

Tesla - TSLA

Shares in Tesla (NASDAQ:TSLA) jumped more than 13 points on Thursday after the electric vehicle (EV) maker announced its latest software update, Version 10.0, which will bring a number of new features, including In-car karaoke, which comes with a massive multiple languages library of music and song lyrics, Tesla Theater, a tool that connects Model S, Model X or Model 3 customers to entertainment services like Netflix, Hulu and YouTube, and “Smart Summon”, a new and cool self-driving capability that lets Tesla customers summon their cars like they’re calling a pet – no driver required.

It is important to note that the recent climb in Tesla shares, the most since June, came also as a result of a leaked email that was first obtained by Electrek.com, a reviews and analysis EV market blog, in which Chief Executive Elon Musk tells his employees that Tesla ‘has a shot’ at making 100K vehicle deliveries in the third quarter/19, topping the record number of deliveries it set in the second quarter. Tesla delivered a record 95K cars in the three months ending in June.

Returning to Software Version 10.0, which Tesla calls its “biggest software update ever”, the most technically interesting feature is Smart Summon. This feature will make it possible for cars to navigate through a parking lot without a driver behind the wheel and come to the owner’s destination of choice.

“It’s the perfect feature to use if you have an overflowing shopping cart, are dealing with a fussy child, or simply don’t want to walk to your car through the rain,” Tesla said in a post to its corporate blog, noting that customers who have had early access to Smart Summon have said that the feature “adds both convenience to their trips and provides them with a unique moment of delight when their car picks them up to begin their journey.”

The company cautions drivers however, that when they are using Smart Summon they “must remain responsible for the car and monitor it and its surroundings at all times.”

Tesla says Version 10.0 will roll out to Model S, Model X and Model 3 car owners in coming days, with those customers getting the update first.

Stock Price Action

Tesla extends recent gains. The name is near session highs at time of writing, last up over 1 and a half point to $244.11. At that price support is at $240.28. Resistance is at $247.59.

Tesla’s market cap exceeds $43 billion, and its shares closed Thursday up 6.1% at $228.70.

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