'No One Wants to Build Electric Cars Other Than Tesla,' Says David Booth (TSLA)
In a National Post article released on Tuesday, David Booth made the argument that most car companies do not actually want to build electric cars, and that Tesla (NASDAQ: TSLA) is alone in pursuing electric vehicles as an actual mode of revenue and profit.
The article outlined multiple reasons companies are building electric vehicles, including using the electric vehicles to counterbalance gas guzzling luxury vehicles and trucks. Companies such as Honda have gone as far as to only lease their electric vehicles, promising to take them back at the end of the lease, and thus taking a massive loss on each one.
Key to the stock's performance, a major lockup expiration is scheduled tomorrow, and looks to be weighing on shares the past few sessions.
Tesla has fallen roughly 11.6 percent over the past five sessions.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.