Tesla Stock Is Soaring for the Funniest Possible Reason

Tesla released some terrible news about sales this morning, but then a funny thing happened: after an initial crash, its stock started to rise significantly. Why? Well, it seems a lot like it has to do with a Politico story reporting, per three unnamed insiders, that president Donald Trump had been telling confidantes of Musk's upcoming departure in a few months — purportedly to focus on his many businesses, and not because he can't get security clearance due to drug use. Though both the White House and Musk himself have spun the reporting as "garbage" and "fake news," the writing was nevertheless on the wall. By the time the markets closed, Tesla was trading for about $282 a share, in a 5.3 percent increase from the $254 price per share it held when markets opened this morning. The stock jump is all the more telling in context, considering that just 48 hours ago, Musk's electric vehicle company was trading at $259 per share — right after the multi-hyphenate himself admitted that hi ... Read full article.