Saudi cuts Tesla investment -Timing stinks
Jan 28, 2019
7 Comments
Please tell me this doesn't smell fishy.
According to the Financial Times, the PIF put the hedges in place after the market closed on Jan. 17 with the help of J.P. Morgan bankers. The following day, Tesla announced layoffs and warned of "very difficult" times ahead. Tesla's stock prices has fallen about 15 percent since then.
https://www.cnbc.com/2019/01/28/saudi-arabia-reportedly-cuts-its-tesla-exposure.html
Saudi Arabia - which Elon Musk claimed would back a buyout - reportedly cut its Tesla exposure
comments
Tesla is a great company with great cars. But not at current valuation
/sarcasm