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After One Week On Nasdaq, Tesla Stock Falls Below IPO Price
by
Edward Niedermeyer
(IC: employee)
Published: July 6th, 2010
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What a week it’s been! Tesla’s stock price is currently sitting just over $16, down from last week’s IPO price of $17. In the meantime, it’s been as high as $29.89 per share. Plenty of analysts figured Tesla’s IPO would be bubble-tastic, but did anyone think the fizz would go out of the EV maker’s stock so soon?
Edward Niedermeyer
More by Edward Niedermeyer
Published July 6th, 2010 4:29 PM
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Dot com bubble redux.
Pundit pessimism? I'm actually impressed that Tesla managed to bob above the vaporware level long enough to actually produce a car. (though Venturi did it first...) But the car and the company itself were never a solid business case.
For all those who critique the "pundit pessimism," since these folks are obviously up for a sure winner and know a good thing when they see it, I suggest each pick up several hundred shares, or so. As much as you can afford. Then, pretty soon, come back and laugh at those of us luddites after the stock has quadrupled in value, and you're driving around town (just don't go over 240 miles) in your nice new Telsa roadster. Good grief.
The Holydonut gives us a handful of reasons to be optimistic, and then closes with: "BTW I bought their stock on the IPO public opening, and dumped it all the next morning." THAT says it all. Talk about mind-boggling.