Monday, 21 September 2020

Tesla traders bet on Musk battery pitch to spark rally

By Noel Randewich
(Reuters) - Fasten your seatbelt, because Tuesday is Tesla's "Battery Day", and some investors expect Chief Executive Elon Musk's pitch on the electric car maker's energy storage advances to re-energize its rally following a recent 21% stock slump.
Tesla's stock has recovered in the runup to the event scheduled and it gained 1.4% in early trading on Monday, helped by a leaked email from Musk that said the company was hopeful of racking up record car deliveries in the third quarter.
Many analysts expect Musk to unveil battery improvements extending the Palo Alto, California automaker's lead over General Motors, Volkswagen <VOWG_p.DE> and other rivals.
Tesla options are pricing in a stock move of around 17% - up or down - by Friday, said Christopher Murphy, co-head of derivatives strategy at ...


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