By Tom Winnifrith | Wednesday 8 August 2018
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Yesterday started badly for the bears when it emerged c/o the FT that the Saudi Sovereign Wealth Fund had built up a stake of 3-5% in Tesla (US:TSLA) via market purchases. It then got worse as CEO Elon Musk tweeted, yes tweeted rather than announcing via a formal announcement, that he was considering taking the company private at $420 a share and had funding.