Diamonds and Dogs

7/6/20

Tesla (TSLA) likes the shorts. Tesla is up 10% to new highs on another upgrade with a $1500 price target. Elon Musk also made fun of people shorting his stock by selling short shorts on his website featuring the letters "S3XY" on the back which represent the names of the Tesla car models. The shorts cost $69.420, the last three digits an apparent reference to Musk's infamous tweet in 2018 that he was considering taking Tesla private for $420 per share, with 420 also a code word for marijuana.

Natural gas not as profitable as it once was. Dominion Energy, the second-biggest U.S. power company by market value, is down 10% after selling virtually all of its gas pipeline and storage assets to Berkshire Hathaway for $4 billion. Dominion also, along with Duke Energy, have decided to nix the deal to build a gas pipeline along the U.S. East Coast. Duke Energy is down 3%.