Musk Unveiled an Underground Electric Bus. Tesla Stock Reaction

The Hyperloop project represents a way to transport passengers or goods through underground tunnels. The concept was developed by a joint team from Tesla and SpaceX, while the work will be carried out by Boring, a company specialized in building tunnels for high-speed transport networks. Electric buses are expected to accelerate up to 240 kilometers per hour and automatically switch between the tunnels they travel through, while special elevators will lift them to the surface for passenger boarding and disembarking.

To implement the electric bus project, the plan is to build around one thousand stations - special platforms with elevators the size of a standard parking space.

Here is how the Tesla (TSLA) share price reacted to this news:

  As we can see, the price per share rose throughout the day on 12 March, posting a gain of almost 6% in just one day, increasing from 326,61$ to 345,70$ per share. This once again confirms that good news has a positive influence on the price.