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Global Oil Market Surprisingly Oversupplied

Despite OPEC oil production cuts…

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OPEC Aims For $60-$70 Oil

Equatorial Guinea’s Oil Minister Obiang…

Martin Tillier

Martin Tillier

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A Logical Move From An Inconsistent Tesla

Surprise, surprise, Tesla (TSLA) is in the news this morning! There have, to this point, been very few things about Elon Musk’s electric car company been consistent, but newsworthiness is definitely one of them. This time the news in question is more along the lines of a conventional business story, and that is why, even though it has caused TSLA to open up this morning over seven percent lower than yesterday’s close, over time that drop will prove to be an opportunity, not a warning.

(Click to enlarge)

Sensational news is nothing new to Tesla. Product launches, production milestones, new projects, in fact almost anything that goes on there is made public, often via Musk’s Twitter account. Not all of it, however, is one hundred percent grounded in fact. The best example of that was the tweet last year that got him in trouble with the SEC, saying that TSLA was being taken private and that funding for that deal was secured.

That was typical of the normal “non-news” news that has surrounded the company until now. We should have guessed at the time of the original post that the supposed agreed price of $420 was significant, and subsequent footage of Musk puffing on a joint while being interviewed has led to an obvious conclusion. Whether the tweet was cannabis-fueled or not, however, is not the point. That incident was yet another example of Musk saying something supportive of TSLA and the market reacting, a tendency that…

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