On Monday afternoon, Tesla Motors (TSLA) announced a new product line. Here’s what the news means for investors.
Inside the Deal
Tesla announced that it will be launching a new product line, but the new product will not be a car. This new product will be announced on April 30th. Although Tesla’s CEO did not report what the new product will be, many experts are expecting a home battery system.
Tesla & The Battery Business
Following Elon Musk’s tweet about the new product, shares of TSLA skyrocketed on Monday. Experts know that Tesla knows the battery business, and are very optimistic about products outside of the auto industry.
Mutual Funds to Watch
Investors interested in Tesla may be interested in the funds listed below. These funds currently have the largest stakes in the company.
| Symbol | Mutual Fund | Stake |
|---|---|---|
| FCNTX | Fidelity® Contrafund® | 3.40% |
| PRGFX | T. Rowe Price Growth Stock | 1.38% |
| VTSMX | Vanguard Total Stock Market | 1.18% |
The Bottom Line
The funds listed above allow investors to gain exposure to Tesla while remaining diversified. Investors interested in Tesla may also be interested in General Motors (GM) or Ford (F).
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