Senator's Bearish Tesla Bet Under Scrutiny As He Buys Put Options Ahead Of Elon Musk-Led Company's Q3 Results That Set Stock Slide In Motion
Portfolio Pulse from Shanthi Rexaline
Senator Tommy Tuberville disclosed bearish bets on Tesla (TSLA) by buying put options and selling shares ahead of Tesla's Q3 results, which led to a stock decline. He also bought call options and sold shares of U.S. Steel Corp. (X), raising conflict of interest concerns due to his position on the Senate Subcommittee on Commodities. Tuberville engaged in other significant transactions, including buying shares of META, WU, WMS, ROK, RMD, PHM, NXPI, ABBV, GSK, and selling shares of TXN, CSX, NSC, ODFL, MRK, JNJ.
November 17, 2023 | 7:02 am
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NEGATIVE IMPACT
Senator Tuberville's bearish bets on Tesla with put options and share sales came ahead of Tesla's Q3 results, which saw the stock price decline.
The timing of Tuberville's trades and the subsequent stock price drop could suggest a negative short-term impact on TSLA's stock price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Tuberville's purchase of call options and partial sale of U.S. Steel Corp. shares could be seen as a conflict of interest due to his Senate Subcommittee position.
While the conflict of interest allegations could bring negative attention, the financial impact on U.S. Steel's stock is uncertain.
CONFIDENCE 65
IMPORTANCE 60
RELEVANCE 70