Tesla Traders Sell The News Of Model S, Model X Updates

Shares of Tesla Motors Inc TSLA spiked sharply on Tuesday morning. CEO Elon Musk tweeted, "Tesla product announcement at noon California time today."

Musk has been known to move Tesla shares with just a single Tweet. Shares hit an intra-day low of $222.80 but traded as high as $228.49, up more than 2 percent on the day.

So what was the big announcement? A a new version of Tesla's Model S and Model X vehicles.

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Tesla says its Model S P100D with Ludicrous mode is the fastest production car in the world, in terms of acceleration, with a 100 kilowatt hour battery, with a 315 mile EPA range.

"I think this is going to send a great message to the public that sustainable transport is the future," said Musk. The Model X P100D (also with Ludicrous mode) is built to go from 0 to 60 miles per hour in 2.9 seconds and will be able to travel 289 miles on a single charge.

The Model S will start at $134,500 and the Model X will start at $135,500.

Shares traded recently at $224.63, up about 0.7 percent on the day.

Click here to see how Elon Musk's tweets impact Tesla's stock.