Tesla stock slipped 15% Monday as investors unloaded shares of the electric vehicle company following a post-IPO "lock-up" period.
Shares tumbled $4.54 to $25.55 on the first trading day after Christmas, when a restriction on certain stock sales imposed after the company's June initial public offering lifted.
The Palo Alto firm's shares started at $17 and had doubled by late November. And to some extent, the company saw Monday's exodus coming, warning about the sell-off in a Securities and Exchange Commission filing last month.
Tesla began glamorously, with film stars such as Matt Damon shelling out more than $100,000 for the Roadster, the company's first vehicle. Chief Executive Elon Musk has also been a glittering figure, co-founding PayPal and heading up Hawthorne aerospace company SpaceX.
However, despite being founded in 2003, Tesla has yet to turn a profit and doesn't plan to start until 2012 at the earliest. That's when the automaker hopes to start selling its Model S sedan for about half the cost of a Roadster.
But that still leaves Tesla in a shaky position, as cheaper electrics and hybrids such as the Nissan Leaf and the Chevrolet Volt get a head start by rolling onto the market this year.
?The biggest problem facing Tesla is that every automaker is now seriously looking into electric vehicles on some level, and this provides competition from far more established and far better funded organizations," Karl Brauer, senior analyst with Edmunds.com, said in a statement.
There's also the $465-million loan Tesla took out from the federal government this spring to develop the Model S. The hurdles, Brauer said, could render the company "irrelevant in a relatively short time frame."
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-- Tiffany Hsu
Photo: The Tesla Model S sedan electric car is displayed at the North American International Auto Show at the Cobo Center in Detroit in January. Credit: Kathleen Galligan / Detroit Free Press / MCT
Full story at http://feeds.latimes.com/~r/MoneyCompany/~3/BHLMnoe6KYE/tesla-stock-falls-15-after-post-ipo-lock-up-ends.html
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Nikola Tesla caused the 1896 Tsunami on June 15th in Japan to mark the anniversary of the Battle of Kosavo. 27,000 people celebrating Shinto were killed on the beach that day. A day divisible by 3, in a month divisible by 3, in a year divisible by 3. Earthquake Machine No. 1 was half completed steel frame of The Gillender Building. The Manhattan Project was named after a 19th century Manhattan Earthquake caused by Nikola Tesla in Trinity, New York where Oppenheimer's parents lived...
Tesla spent last ten years and died in Room #3327 because Earthquake Machine No. 2 was the Knob Hill Apparatus in Colorado Springs which caused the 27 day long 1899 Alaskan Earthquakes commencing on September 3, 1899 at 3h03m27s or 3:03:27 pm epicenter time. That was a year divisible by 3 times 3, a month divisible by 3 times 3, a day divisible by 3, in an hour divisible by 3, a minute divisible by 3, a second divisible by 3 times 3 times 3 and for Christ's sake it was Earthquake Milne Shide No. 333...
Earthquake Machine No. 3 was Wardenclyffe Tower which caused The Tunguska Event on June 30, 1908. A day divisible by 3, in a month divisible by 3, in a year divisible by 3 times 3. NUCLEAR WEAPONS WERE ENGINEERED DIRTY ON PURPOSE... to discourage their use, hinder their delivery, justify their regulation, hamper their manufacture and consolidate their control. @michiokaku You are a liar. -Biblical Prophet Tesla made earthquakes so saith the lord...
Young's Literal Translation - Here is the wisdom! He who is having the understanding,
let him count the number of the beast, for the number of a man it is, and his number
is six hundred and sixty six.
I am a prophet of the bible.
Have an ear... the hour is here... like a thief in the night.
The number is perfect. The signature of God.
I was born 75 years to the day after Earthquake No. 333
caused by Nikola Tesla,
or I would have never been told.
My social security# is six hundred and sixty-six.
My Federal E.I.N. for Insight, llc. ends 666.
I have counted the number of the beast,
and with insight I calculate the number Tesla's Trinity.
I bring proof from God by solving the riddle of Nikola Tesla.
Nikola Tesla caused the 1899 Cape Yakataga and Yakutat bay earthquakes,
with The Knob Hill Apparatus from his Colorado Springs lab.
That is why he spent his last ten years and died in Room #3327.
3h03m27s on September 3, 1899.
A second divisible by 3,
in a minute divisible by 3,
in an hour divisible by 3,
on a day divisible by 3,
in a month divisible by 3,
in a year divisible by 3
TIMES THREE.
And for Christ's sake it was Earthquake Milne Shide No. 333
"All repeated acts or operations I performed had to be divisible by three
and if I missed I felt impelled to do it again,
even if it took hours." -Nikola Tesla (After Causing Earthquakes)
"If you only knew the magnificence of the 3, 6 & 9;
then you would have a key to the universe."
-Nikola Tesla
Earthquake Shide No. 333
Three plus three is six, plus three is nine.
A three squared 27 day man-made seismic event.
Sept. 3"69"
Professional Paper 69
U.S. Geological Survey 69
by Tarr and Martin
Published 1912
http://tinyurl.com/twentyseven
I do custom logo items when not prophesying the bible
imprintx.com
yourpenguy 1-888-8-ADCOPY
Here is one of the 1000+ times I wrote "June 15, 1896" online before the "March 11, 2011" costliest natural disaster ever with the same epicenter in the same ocean starting the same size tsunami striking the same shores of the same cities of the same island with the same thing.
I made the pope retire.
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