Tesla board member sells more than $22 million in stock

By Bobby Raines,

Shutterstock photo

Bobby Raines 06/04/2014

Antonio Gracias, a member of the board of directors at Tesla Motors ( TSLA ) sold $22,186,329 worth of the company's common stock in May. Gracias sold a total of 110,000 shares at prices ranging from $186.37 to $214.20.

IK-> The technicals for TSLA ($204.04 down $0.90) are bullish with a neutral trend. Recent support has been around $178.59 and recent resistance has been near $211.56. Standard & Poor's has a three STARS (out of five) rating on the stock. Look at the 245/255 bear-call spread for a 50-cent credit. That's a 5.3% return and the stock has to rise 20.1% to cause a problem.  [InvestorsKeyhole, Various news and data services]

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Originally published on InvestorsObserver.com

This article appears in: Investing Options
Referenced Stocks: TSLA

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