Tesla is on watch after Elon Musk indicates he might sell up to 10% of his share
Shares of $Tesla(TSLA.US$ could see some selling pressure tomorrow if Elon Musk follows through on a Twitter poll asking users if he should sell 10% of his position. About 58% of respondents indicated that he should, which puts Musk on the hook to follow through on his pledge. Bloomberg reports that Musk faces a tax bill of about $15B on stock options, which could be the real reason he is considering a sale of more than $20B worth of Tesla stock.
Meanwhile, Wedbush Securities heads into next week even more confident on the electric vehicle maker with an eye on the future.
Analyst Dan Ives says the linchpin to the overall bull thesis on Tesla remains China, which he estimates will represent 40% of deliveries in 2022. "While PR/safety headwinds were front and center in China earlier this year, we have seen this demand trend reverse aggressively in a bullish way for Tesla into year-end with the company now on a ~50k monthly run-rate for China in 4Q that could ramp further into early 2022," notes Ives.
Wedbush forecasts that by the end of 2022 Tesla will have the capacity for overall ~2M units annually from roughly 1M today as new Gigafactories come on line. The firm also expects more bulk orders globally to follow on the Hertz deal. Wedbush keeps an Outperform rating on TSLA and sets a new bull case price target of $1,800 and base case PT of $1,100
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Tuyea : Actually he already sold last week when we busy buying
Dogoro777 : Not before his brother dumped shares of tesla.
The con brothers at it again
Aaron_Kelly : Bullish derpy derp bag holders always have a reason to buy Tesla. But valuation always matter in the end.
Austin ONeill : Tesla might mark the top of the stock market bubble and if Elon sale triggers it then that would be funny.
Kieron Morley : Me gonna sell 10% of my stock, me gonna get $20 to $25 billion for it, me gonna pay taxes, me gonna exercise my stock options before they expire and me gonna have more Tesla shares than ever.
As for why making it public on twitter : well, the man just tried to tell the investors that Hertz deal is not a big deal, SP should not be going up. He does not like TSLA being over $1K at this stage, whatever the reason.
William Paul : He knows Tesla is trading waaaaaay to high and 10/25 years into the future if ever.. 1.22T market cap for a car company lol yeah.
Brandon Golden William Paul : I think Tesla Insurance alone could be a huge company given the extreme safety that Tesla cars provides. Smaller premiums but still double or triple the margins as a other insurance companies easily. Even more later
Brain Gomes Brandon Golden : Still not worth the current market cap. You know Tesla already has a market cap to be one of the biggest companies just under Amazon And above BRK.. I love the company but Tesla does not worth more then Warren Buffet, he also own a great insurance company.
John Dow : Later he will say something else. I love this guy always screwing with
The media and everybody else.Remember the big $420 buyout.?
He’s a hoot just let him go.....
wild horse : We need new cars, dude.