$Tesla Motors(TSLA)$Many EV stocks have gained considerable market value on Friday as Tesla(NASDAQ:TSLA) presented a potential gamechanger. According to a White House memo, the pioneering icon will begin production of new equipment that will allow non-Tesla EV drivers to use Tesla Superchargers.
According to Jalopnik, Tesla has been running a pilot program to allow EV drivers in Europe to access its charging network. In part, the announcement bolstered EV stocks because it arrived unexpectedly quickly. Although Tesla CEO Elon Musk vocally supported an open charging network, he never really converted words into action. Further, Musk and President Joe Biden have not always seen eye to eye.
Now that bygones are apparently bygones, the news appears to be positive for EV stocks. For the non-Tesla names, access to the company’s charging network would go a long way toward easing range anxiety. According to U.S. News & World Report, “Tesla Superchargers are located in all 50 U.S. states, as well as Puerto Rico.”
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$Tesla Motors(TSLA)$
Elon Musk on Friday announced he was backing out of his $44 billion Twitter acquisition bid, blaming the social media platform’s alleged lack of transparency regarding bots on the site.
As both sides prepare for a lengthy court battle, some Twitter influencers are floating an alternate theory for the change of heart: The bots were never the problem, merely a vehicle through which to covertly sell Tesla options that were about to expire.
“Entire thing was a clever ruse to SELL + LIQUIDATE $8.5 BILLION of TESLA STOCK (w/plausible excuse for doing it),” Josh Wolfe, co-founder of Lux Capital, tweeted Friday after the announcement. The tweet included math that suggested Musk would walk away with more than $7 billion in liquidated stock—even after paying the $1 billion breakup fee.
630 remains the key to hold.
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