Elon Musk has a message for investors who have been buying Tesla stock in recent weeks: Buy shares with your eyes closed.
The company is still in the early stages of making the electric-car maker’s next-generation Model 3, but it’s already seeing strong demand for its latest line of cars.
In fact, Tesla’s stock has rallied more than 25% over the past two weeks after the electric carmaker announced its Model 3 unveiling earlier this month.
In a note to investors published Wednesday, Musk wrote that “while the Model 3 is a significant milestone, there is still a long way to go.”
Musk added that Tesla has been a “very successful company” and that “we have had an incredible year.”
In the note, he noted that Tesla’s share price has jumped over 25% since Tesla announced the Model X, the electric SUV, last month.
“We will be doing more, and we will be more competitive, in the years ahead, as we continue to make progress on the Model 4, Model 5, and Model 6,” Musk wrote.
“But today we are happy to be in a position to announce that our stock price is up nearly 25% in the past week.”
The stock was up nearly 20% over its peak on Tuesday after the Model S, a luxury sedan, launched.
But it has been down over 20% since then, after Tesla’s Model 3 was revealed last month and after a few delays in the Model E, the battery electric vehicle.
Musk’s note is part of a larger market update that was released Thursday, which also showed the company’s share value had climbed nearly 100% in a year.
The market update also highlighted Tesla’s revenue, profit and operating profit for the fiscal year that ended March 31.
Tesla posted an operating profit of $7.3 billion in the first quarter of 2017.