Well Tesla is having a bad day today, as it is down 8.5%. It also just flew threw the 50 moving average, and is looking to head lower, how low is the question.
As you can see a big candle to the downside, and looking at the support and resistance levels, looks like there is not much till 500 to 450 area. Even at that price, Tesla still is worth more than all the auto makers in the world combined.
On another note, solar city in the tsla group is making a huge effort to take over the power grid. In the way that amazon did, they are under cutting everyone in home solar. Then getting their power grid management system out there, so they can secure their own power plants of sort view personal homes. By having thousands of homes with their management system they can effectively send massive amounts of power at once or with hold it.
Not quite sure if they are going to try and buy power directly from homeowners, and sell it the the power company as a middle man. But something to keep a eye on for sure.
Posted Using LeoFinance Beta