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According to Tesla, Teslaquila “is an exclusive, small-batch premium 100% de agave tequila añejo made from sustainably sourced highland and lowland agaves.”
Tesla Inc (NASDAQ: TSLA) stock closed Thursday’s trading session at $438.09 having added 4.06%. However, some of the gains had been slashed during the after-hours trading session as they were approximately 1.30% down at the time of writing. The notable spike in volatility of Tesla stock coincided with the ongoing United States presidential election that indicates possible one term for the incumbent President Donald Trump. Away from that, Tesla added a new product to its line of market products. Teslaquila, the latest product update from Tesla that perhaps triggered yesterday’s spike in Tesla stock.
Teslaquila: Branded Liquor from Tesla
According to Tesla, Teslaquila “is an exclusive, small-batch premium 100% de agave tequila añejo made from sustainably sourced highland and lowland agaves.” Notably, as a known tradition with Tesla to produce sleek products, every detail of the Teslaquila is meticulously designed to match no other in the market.
Apparently, Teslaquila comes in a lightening-like bottle. In addition, another striking feature of the Teslaquila is the fact that it is aged for 15 months in French oak barrels, hence attaining the desired quality.
“Tesla Tequila features a dry fruit and light vanilla nose with a balanced cinnamon pepper finish. Best enjoyed as a sipping tequila,” the company noted on its website.
As with prior peculiar products that Tesla has unveiled, the Teslaquila has already been sold out through Tesla’s website. Apparently, resellers are already scalping for the Teslaquila bottles at $999. Making it more of a treasure than a bottle of liquor to enjoy.
It has been noted that liquor was produced by Nosotros Tequila. Tesla has indicated that it is delivering the Tesla liquor in specific states that allow liquor delivery at $250 a bottle.
Tesla stocks now enjoy a wide variety of product backing, hence making them not only good for long term trading but also speculative trading. With a $399.05 billion market valuation, Tesla is capable of introducing, and marketing new products without much struggle.
Tesla stock has rallied over 420% year to date and jumped approximately 47% in the past three months. Despite the increased competition from other EV companies both in the United States and overseas, Tesla has a huge head start and is more likely to maintain its position for a long period.
Tesla stock might continue winning in the coming quarters despite the low market demand caused by the ongoing coronavirus pandemic.
Notably, the introduction of Teslaquila was hinted at by unpredictable CEO Elon Musk on 2018 Fools’ day and more than two years later it has been unveiled.