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Short-Term TSLA Price Movements - 2013
- Thread starter Robert.Boston
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moltenfire
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Gtoffo
Member
"General Motors just curbed Tesla's momentum with an announcement that it would cut the price of the Chevy Volt. The news came just a day after Barron's said Tesla shares could be worth half their recent price, due to hurdles in getting a lower priced model to market.
General Motors will be offering a $4000 incentive for buyers of its 2013 Chevy Volt model and $5000 to buyers of the 2012 version, according to news reported today. With the competitive threshold thus raised for the new automaker, Tesla shares were immediately impacted with a gap open lower Tuesday. The stock was down 4% deep into the trading day. That followed TSLA's drop of 1.9% on Monday, after Barron's published a high profile report on the company questioning its valuation."
Source: GM Just Curbed Tesla - Seeking Alpha
ShortSlaver
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It's sort of a thing the last few months. Every Tuesday you were essentially guaranteed TSLA would be red for the day, often by fairly large percentages. Some of it possibly had to do with the rolling naked short that was going on. There was often high volume on those days.
ShortSlaver
Member
And it's available in 2 states and isn't competitive with Model S. Tesla doesn't have to offer an incentive to find buyers. GM has no intention of the Volt EV of ever becoming something they turn a profit on or even sells well or outside of states they are more or less forced to sell an EV in right now.
By all means, I'm happy they are selling an EV but Tesla doesn't compete with that.
That would be a great opportunity to make money! Checked last 50 tuesdays out of curiosity. It's 24 down and 26 up
ShortSlaver
Member
That would be a great opportunity to make money! Checked last 50 tuesdays out of curiosity. It's 24 down and 26 up
How about the last 12?
TSLA short interest on May 31: 18,586,401
Tesla Motors, Inc. (TSLA) Short Interest - NASDAQ.com
Good call Dave. :smile:
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ShortSlaver
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rolosrevenge
Dr. EVS
Gtoffo
Member
That just caused a huge spike in price in after hours.... 1.18 days to cover...are we out of short squeeze territory?
ShortSlaver
Member
Yeah, I imagine is much higher. A lot of shorting activity the last 2 weeks really and shares are hard to come by to short. They aren't generating the huge fee for brokers as they were making shorting a more reasonable strategy now though.
The whole market was crap today though, just lots of fear in the market right now. Which isn't the worst thing.
Any kind of fundamental good news about TSLA would be nice. There's just been so many negative things written lately without any premis in fact and combine that with a skittish market, you get these types of situations.
We'd exepect the SI to drop significantly after the run TSLA had. The good thing (for the longs) is that 18.5mm shares is still a decent amount of SI so any good news would likely send another chunk of the shorts running for cover. Even with the big short squeeze passed us and all the negative articles as of late i'm very impressed with how its performed. You'd think with such a run up like it had it could have easily dropped back in the 80s or even 70s. Consolidating in the 90's is nothing but healthy for the stock so that it has a firm base for the next potential leg up, which could come leading up to the June 20th announcement.
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