By Ben Levisohn
Two pieces of news came after yesterday’s close that really should have been bad news for Tesla Motors (TSLA). Instead, its shares are ticking higher this morning.
- EVERT ELZINGA
So what happened? After the close yesterday, Daimler announced that it had sold its stake in Tesla, as the company has transformed from a niche player into, you know, actual competition. Last night, meanwhile, Ford Motor (F) said it would slash the price on its Focus Electric by $6,000 in hopes that a $29,995 price dag would boost demand.
Investors have shrugged off the news so far this morning. Tesla’s shares have gained 0.5% to $236.53 at 9:56 a.m. Maybe it’s because Tesla’s trading nearly 20% off its all-time high? Or that the upstart automaker is scheduled to report earnings if two weeks?
Or maybe, just maybe, the news just doesn’t matter that much after all.
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