Breaking Finance News

BREAKING- Unconfirmed Market Talk of Tesla Secondary Offering (TSLA)

Zemanta Related Posts ThumbnailBenzinga is reporting that there are rumors circulating that Tesla (NASDAQ: TSLA) may announce a secondary offering. This rumor would explain the spike lower that took place around 1:45 p.m. EDT.

Investors know the story of Tesla. The electric car maker is up 500 percent in the past year and even CEO Elon Musk believes that the valuation that the street has placed on the stock is likely too high–at least for now. We will update this story if more news comes available.

The stock traded to a new high of $173.50 earlier today. Watch for support at $161.84. September weekly call option implied volatility is at 66, September monthly options are at 59, October, 61, and December, 64. The 26 week average is 64.

Note: This is an unconfirmed rumor.

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[stock-tools exchange="NASDAQ" symbol="TSLA" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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One Comment

  1. Weapon

    September 3, 2013 at 5:51 pm

    Tesla has 700 million in the bank an a positive cash flow, why in the world would they do a secondary offering? It makes 0 sense at this point.