Filed under: EV/Plug-in, Tesla Motors
As A. Whitney Brown once said, "There's really no use in beating a dead horse. I mean, except for the pure joy of it." Well, if Tesla's recent string of successes is said horse, then we hope you enjoy the rest of this post.
Let's start with politics, and Tesla CEO Elon Musk's step back from Facebook founder Mark Zuckerberg's new immigration reform political action group, Fwd.us. Musk is one of the big names that is taking his name off the supporter list because Fwd.us gave money for ads that supported US senators who also supported the Keystone XL pipeline and Alaskan oil drilling.
Then we have Tesla stock, TSLA, which has more than doubled so far this year. It was news when it crossed the $50 mark a few weeks ago but right now it's sitting at $83.75, up almost $7 from Friday. The reason for the rapid rise is clear to anyone who's paying attention, as you can see in the interactive widget below, but there is a trading history here that involves a lot of people betting against Tesla. There's a good rundown on the history of TSLA stock shorting here, and it includes these words of warning: there are a number of factors that "could drive the stock down in time. Probably will, say some analysts" and "If you own Tesla stock, enjoy the ride." We recommend the same if you own an actual Tesla.
Tesla stock breaks $83; CEO Elon Musk steps way from Facebook founder's immigration group originally appeared on Autoblog Green on Mon, 13 May 2013 12:22:00 EST. Please see our terms for use of feeds.
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