Elon Musk Has Last Laugh? Senator Tommy Tuberville's Tesla Short Bet Backfires As Stock Rallies Past $250
Portfolio Pulse from Shanthi Rexaline
Senator Tommy Tuberville's bet against Tesla with put options backfired as the stock rallied past $250. Tuberville bought three lots of Tesla put options with a strike price of $190 expiring on Dec. 15, 2023. Tesla's stock fell after Q3 earnings but has since recovered, rendering the senator's options likely worthless. Elon Musk commented on the trade, calling those betting against Tesla 'Gluttons for punishment.'
December 17, 2023 | 1:26 pm
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POSITIVE IMPACT
Tesla's stock recovery past the $250 mark has likely rendered Senator Tuberville's put options worthless, indicating a strong performance despite initial post-earnings drop.
The news directly relates to Tesla's stock performance and the failed short bet by Senator Tuberville. The stock's recovery is a positive sign for investors and could lead to a short-term bullish sentiment. The importance is high as it pertains to market perception and investor confidence in Tesla. The confidence in this analysis is strong due to the clear outcome of the options bet and the stock's current price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100