tsla stock tumbles, rumor of foreign parts

edited November -1 in General
I bought a large portion of TSLA stock this morning at 9 am, came home a checked it at lunch, only to discover it had lost 3% in three hours due to rumors they are under investigation for using DOE loan money to buy foreign parts against regulations. Say it isn't so, and go back to being the smart, ground breaking (not law breaking), game changing, future for our children and their children, car company I believe in. I am in it for the long haul and expect bumps, hills and valleys. Just want to be assured this is a lot about nothing...


  • edited November -1
    This suggests the DOE money was not a part of the 'stimulus', and therefore the condition does not apply. Sounds like old news recycled, actually. Possibly a bit of disinformation from shorts, trying to stop the rise which is crushing their jewels.
  • edited November -1
    The shorts need Other People to sell, of course. They did all their selling in advance! Now they need to exploit investors even more foolish than they were. If they can find any.

    After the opening and sell-off, trading has been very thin. Doesn't seem like many want to sell.
  • edited November -1
    I sold some (5%) yesterday at $35, but only because I needed to do so for taxes on my IRA. I'm certainly not going to sell any more without a large increase.
  • edited November -1
    I doubt that there is much to the story. Fisker got a DOE loan and the Karma isn't even assembled in the US.

    I am not saying that's a good thing, just that in comparison Tesla has far more value added in the US. The car is probably more American than most cars being sold today.

    The Washington Times is a notorious right-wing rag with a history of "placed" news.

    TSLA is heavily shorted and some of the funds involved will not go down quietly. TSLA is an easy stock to kick down right now because it rose so much so recently, but it also has a very solid floor at around 31 (just a couple of months ago it was 28).

    Just watch the ramp. If production reaches the 20K/year rate without major quality issues, the shorts will be in a world of hurt no matter what they do.
  • edited November -1
    Fisker's loan wasn't for the Karma, to be fair. It was for the "Atlantic", but they missed some benchmarks and it was terminated.
  • If you have a brain, kind of hard to hate Tesla... even if you are a right wing nut!

    I had doubts about Tesla for years, but Model S production lays down some pretty solid evidence about the company being a solid investment.

    Judging from the quality of the Karma and lack of interest in producing it in the US, I would would be shouting 'solyndra' about Fiskar if I was a politician too...
  • edited November -1
    Can't some of these short-sellers be sued for misrepresenting the facts? I have no knowledge of the stock market but this is pretty wrong what's happened.

    Good on Tesla for keeping at it despite the naysayers.
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