Tesla stock dives after Elon Musk cools ‘Battery Day’ hype
Musk wants you to know Battery Day is about the long-term
Elon Musk’s Battery Day needs to be big
While nobody knows exactly what Musk has in store for the public, anxious shareholders have now waited months for today’s showcase, all while Tesla’s stock price has repeatedly multiplied.
In fact, Tesla stock has risen by more than 290% since Musk first postponed Battery Day back in April.
And so, whether Tesla unveils its supposedly secretRoadrunnerproject or simply touts more efficient batteries, the event had better impress if the company’s to push its share price any higher.
[Read: Tesla dumped $5B worth of its stock in just 4 days — and traders hate it]
It’s a point not lost on Reddit’s greediest finance community, /r/WallStreetBets. Traders glued to pre-market price feeds have started multiple threads to unpack Musk’s latest tweets in a bid to unlock what it all means.
The options market says Tesla stock will move 17%… but which direction?
Daytrading cosplay aside, market makers reckon today’s event will have a big impact on the company’s share price.
A Reuters reportpublished Tuesdaynoted Tesla’s options market expects $TSLA to move 17% either way by the end of the week.
Industry analysts seem to support this narrative. “We (and the market) expect the announcements to be significant, cementing Tesla’s cost and technology lead for several more years,” one UBS analyst wrote to clients earlier this month, according to Reuters.
Story byDavid Canellis
David is a tech journalist who loves old-school adventure games, techno and the Beastie Boys. He’s currently on the finance beat.David is a tech journalist who loves old-school adventure games, techno and the Beastie Boys. He’s currently on the finance beat.
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