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TSLA Stock 1.5% Down in Pre-market, Elon Musk Announces Canceling Tesla Model S Plaid+

UTC by Bhushan Akolkar · 3 min read
TSLA Stock 1.5% Down in Pre-market, Elon Musk Announces Canceling Tesla Model S Plaid+
Photo: Depositphotos

Elon Musk said that the upcoming Plaid version is so good itself that he sees no point in launching any premium upgrade for the same.

Automobile giant Tesla Inc (NASDAQ: TSLA) will no longer be releasing the Plaid+ variant of its Tesla Model S. This month, Tesla is probably starting the deliveries of the Plaid version of the Tesla Model S. The Plaid+ was supposedly a super-charged variant of this. Elon Musk shared the news on the Tesla Model S Plaid+ canceling on his Twitter page.

The Tesla Model S Plaid will go from 0 to 60 mph in just under 2 seconds. Besides, it also comes with a top speed of 200 miles per hour along with an estimated range of 390 miles. With three motors installed, the Plaid powertrain produces 1,020 horsepower. Thus, Musk described driving the vehicle as feeling like a spaceship. In a tweet late last month, Musk said:

“Model S Plaid delivery pushed to June 10. Needs one more week of tweak. This car feels like a spaceship. Words cannot describe the limbic resonance”.

The plus variant of the Model S Plaid featured higher horsepower and a longer range. The Plaid+ variant of the Tesla Model S which is now canceled wasn’t as such coming by mid-2022. The existing Model S Plaid variant starts at a price point of $112,990. The premium Plaid+ has a starting price of $150,000.

Tesla Stock Surged 5% Last Friday but Is Down Now after the News about Plaid+

On the last Friday’s trading session, TSLA stock surged 5% giving a closing at $599. After a solid rally over the last year, TSLA stock has remained a bit volatile over the last few months. Today in the pre-market, the stock is losing its value. At the time of writing, it is trading at $589.79, which indicated a 1.55% drop.

On the other hand, Elon Musk has been once again quite vocal about Bitcoin. Last week, Musk made a tweet suggesting that he’s breaking up with Bitcoin. This raised speculations about whether if Tesla would be liquidating its Bitcoin’s anytime soon. Following Musk’s tweet, the BTC price once again came under pressure.

In one of his tweets recently on Sunday, June 6, Musk hinted that cryptocurrencies like Bitcoin (BTC) don’t represent the real economy. “Goods & Services are the real economy, any form of money is simply the accounting thereof,” said he.

Over the last weekend, the activist group Anonymous threatened Elon Musk for playing games with Bitcoin. BTC price came under pressure after Tesla discontinued Bitcoin payments last month. Since then Musk has been making critical statements w.r.t Bitcoin’s energy consumption.

The hacking activist group has threatened Musk saying that he can “expect” them anytime soon. They have also criticized the Tesla CEO for destroying lives and that people are “beginning to see [him] as nothing more than another narcissistic rich dude who is desperate for attention.”

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