20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
EV giant Tesla Inc (NASDAQ:TSLA) has seemingly started acting against customers who attempt to resell their stainless steel Cybertruck in violation of a clause from Tesla’s motor vehicle agreement.
What Happened: Despite the no-resale clause in the purchase agreement for the Cybertruck, several owners have attempted to and even sold their vehicles.
Tesla has now apparently taken action against one of these owners, canceling their orders and blacklisting them from future Tesla purchases. The customer, known as Dennis from Arizona, announced the news himself on the Cybertruck Owners Club forum on Sunday.
Dennis said on the forum that though he listed the vehicle on different platforms, he hasn’t sold it. However, a team from Tesla reached out to cancel his other Cybertruck reservations and also warned that any future orders placed by them would be canceled without a refund of the reservation or order fee. Whether the company was referring to merely Cybertruck or any Tesla vehicle is unclear.
“Be careful selling your Cybertruck! Tesla found sale listings, canceled my other reservations and I may be blacklisted,” Dennis wrote on Sunday.
“FAFO – we build vehicles for people who love and enjoy them. Not to flip for profit without adding any value. This shouldn’t need to be said or enforced,” Cybertruck lead engineer Wes Morrill wrote on X after the company’s actions against the customer made headlines.
Other Buyers And Sellers: In late February and early March, it was reported that a Porsche dealer as well as Dearborn-based Ford Motor Co. purchased a Cybertruck for as much as $250,000. However, Tesla CEO Elon Musk then only opined that the purchases would be “worth it” and that Porsche could even discover a "lot of new technology" if they took it apart. The CEO mentioned no actions against the resellers.
Resale Prohibition Clause: A clause within Tesla’s motor vehicle agreement prohibits buyers from reselling the Cybertruck within a year of taking delivery. If a buyer still wants to sell, they must inform the company in writing and Tesla will buy it back from the driver. Even if Tesla does not agree to buy back the vehicle, the driver will still need written consent from Tesla to resell to a third party, as per the clause.
In case of breach of the said clause, the buyers could be charged a penalty of $50,000 or more, the company said.
"You agree that in the event you breach this provision, or Tesla has a reasonable belief that you are about to breach this provision, Tesla may seek injunctive relief to prevent the transfer of title of the Vehicle or demand liquidated damages from you in the amount of $50,000 or the value received as consideration for the sale or transfer, whichever is greater," the agreement reads. Tesla may also refuse to sell any more vehicles to the buyer as per the paperwork.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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