TSLA goes from $350 to $360

TSLA went up ~$10 from Friday's close $350.48, to Monday's opening, $360.00. But this isn't real until we see confirmation from China or Tesla. Trump tweets so much BS, I can't believe anything he says or tweets.

Source: Trump tweets China to cut tax on U.S.-made cars, revs up auto stocks

U.S. President Donald Trump said China had agreed to cut import tariffs on American-made cars . . . said on Twitter "China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%".
. . .
Beijing raised tariffs on U.S. auto imports to 40 percent in July, forcing many carmakers to hike prices in a major hit to the roughly $10 billion worth of passenger vehicles the United States sent to China last year.

That put U.S.-made car brands like Tesla Inc (TSLA.O) and Ford Motor Co's (F.N) Lincoln at a major disadvantage as the move came soon after China slashed auto import tariffs for the wider market to 15 percent from 25 percent.​

We really need to see confirmation from China or Tesla. Will the SEC take a peek if the tariffs don't change or change in some funky way?

I can envision China graduating tariff reductions to favor EVs and plug-in hybrids, part of their clean air effort. Less efficient cars, not so much.

Bob Wilson

ps. This may be too close to the edge of political. My original title was "Why lying is bad."

 

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Bob Wilson