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Submission + - Tesla Stock touches the magic figure of 420 (shortsight.com)

140Mandak262Jamuna writes: Elon Musk tweeted he had secured funding to take Tesla private at 420$ a share right in the middle of a trading day in Aug 2018, without any prior approval from the board of directors. The plan fell through, SEC fined him and the company 20 million dollars each, forced him to give up the presidency of Tesla.

The stock touched it low of 178 $ in Jun 2019 and it has been rising steadily and it has been on a tear in the last few trading days of the year. It briefly went above 420$ today, touching a maximum of 422$ and it closed quite close to 420.

Ihor Dusaniwsky of S3 Partners (A company that tracks short trades of hundreds of securities) is reporting the the the people who sold the stock are finally being squeezed. They were 5.20 billion in YTD profit in the first week of Jun 2019 and have lost 7.3 billion in the last six months.

Tesla supporters are euphoric and are lighting up twitterverse with lots of taunting messages directed at the shorts.

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