On September 11th, we decided to trade Tesla (TSLA). We had been watching the trajectory of this stock since August 1st, when it was trading at $135.00. We felt the price action warranted a closer look.
This stock had been the definition of volatility, where any news caused big price swings, whether warranted or not. From Department of Energy loan repayment issues to the ongoing battery supply saga, Tesla’s stock has never been short on headlines. By September 11th, we had seen enough and knew that it was time to go long.
Here’s what we saw that day: