Tesla (NASDAQ:TSLA) CEO Elon Musk looks to be finally moving forward with plans to open restaurants and TSLA stock is on the rise.
Here’s everything investors need to know about the company’s restaurant plans.
- Tesla has filed a trademark application with the U.S. Patent and Trademark.
- This covers the use of the iconic Tesla “T” and two stylizations of the Tesla name.
- The filing mentions making use of these in a restaurant setting.
- That possibly includes “restaurant services, pop-up restaurant services, self-service restaurant services, take-out restaurant services.”
- This falls in line with Tesla CEO Elon Musk talking about opening a restaurant chain for years.
- He’s previously mentioned wanting to open one in California that would act as a retro drive-in restaurant with roller skates and rock music.
Gonna put an old school drive-in, roller skates & rock restaurant at one of the new Tesla Supercharger locations in LA
— Elon Musk (@elonmusk) January 7, 2018
- The idea is that restaurants of these styles could be opened at Tesla Supercharager locations.
- That would allow customers to get food and charge their electric vehicles (EVs) at the same time.
- Of course, this doesn’t mean that the Tesla restaurant is going to pop up anytime soon.
- Getting all the permits for a new restaurant chain takes time.
- That’s doubly true for Santa Monica, which is where the first location will likely open.
- Keeping that in mind, it could be months before the permits are approved and even longer for construction to be completed.
- That means holders of TSLA stock hungry for new restaurant news might be waiting for a year or more before the first location is ready to serve customers.
TSLA stock was up 3.8% as of Friday morning but is down 18.5% since the start of the year.
Tesla isn’t the only company that investors need to keep an eye on today.
It may be the end of the week, but there’s still plenty of news to keep track of. That includes what’s happening with Pershing Square Tontine Holdings (NYSE:PSTH), Senseonics (NYSEMKT:SENS), and more. Check out the latest news at the links below.
More Friday Stock Market News
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- SENS Stock: The Promising Trial Results Lifting Senseonics Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.