• 4 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 7 minutes Countries with the most oil and where they're selling it
  • 10 minutes Stack gas analyzers
  • 13 minutes What Would Happen If the World Ran Out of Crude Oil?
  • 2 hours End of Sanction Waivers
  • 2 hours Alliances: Iran And Pakistan To Form Joint Rapid Reaction Force At Border
  • 2 hours Balancing Act---Sanctions, Venezuela, Trade War and Demand
  • 2 hours Climate Change Protests
  • 9 hours Gas Flaring
  • 11 hours Mueller Report Brings Into Focus Trump's Attempts to Interfere in the Special Counsel Investigation
  • 7 hours "Undeniable" Shale Slowdown?
  • 3 hours Don't Climb Onto the $80+ Oil Price Greed Roller Coaster, Please.
  • 25 mins Populist Surge Coming in Europe's May Election
  • 1 hour US Military Spends at least $81 Billion Protecting OPEC Persian Gulf Oil Shipping Lanes (16% DoD Budget)
  • 11 hours Trudeau Faces a New Foe as Conservatives Retake Power in Alberta
  • 12 hours Oil at $40
  • 12 hours Case against Trans Mountain Begins
  • 12 hours U.S. Refiners Planning Major Plant Overhauls In Second Quarter
  • 11 hours China To Promote Using Wind Energy To Power Heating

Don’t Count On The Usual Tesla Bounce This Time

Oil

I have written occasionally here about Tesla (TSLA). While the relationship to the energy market and sector is a tenuous one, it is a fascinating stock that has produced a lot of trading opportunities over the last couple of years. What has made it so is that it has moved in a somewhat predictable manner, but the movement has been based on factors other than the fundamentals or prospects of the company. Based on the news this week though, the party may be coming to an end.

TSLA has been volatile for a while. That is the result of sentiment swinging between two extremes. At times the market has focused on the enormous potential of a company with an appealing mission and vison and a great product line, while at others the reality of earnings, or rather the lack of them, has taken precedence. Each time that has happened though, the company’s CEO Elon Musk has released some information or made a comment that reassured the bulls and caused the stock to climb back.

As you are probably aware, TSLA has taken a major hit after it became known that the SEC is suing Musk and requesting that he be barred from being an officer of the company. That would be a blow to any company, but to Tesla, where many shareholders are more “true believers” than rational investors, it could trigger major losses.

(Click to enlarge)

There are signs this morning that the stock is bouncing back to some extent. It has gained a few dollars since opening around…




Oilprice - The No. 1 Source for Oil & Energy News