Article Image

IPFS News Link • Business/ Commerce

Tesla Trades Over $1,000 For The First Time

• https://www.zerohedge.com, by Tyler Durden

Tesla shares breached the $1,000 threshold in intraday trading for the first time on Wednesday, after:

a week of Jim Cramer pumping Ron Baron's appearance on CNBC, where he said the company's stock could 10x from here

mysterious call option purchases that we pointed out last month

four workers at Tesla testing positive for coronavirus today, after our report yesterday that two other employees had tested positive days after Elon Musk fought to re-open the Fremont factory

selling 11,095 Model 3's in China in May

an upgrade by Wedbush after Elon Musk's claims that Tesla would start producing the Semi soon on Wednesday morning

the company's VP of Business Development in China, Robin Ren, leaving the company

The one item that continues to befuddle us is the fact that Tesla, despite how high its stock price goes, refuses to raise money by selling equity.

With the company's valuation so patently absurd at this point, wouldn't it be a breach of fiduciary duty to not go to the market and sell stock?


PirateBox.info