Shares of Tesla Motors (TSLA) are gaining today, and while I would chalk that up to the overall good vibes emanating from the market, it certainly doesn’t hurt that a New Jersey Assembly committee voted to allow Tesla to sell directly to customers.Getty Images
NJ.com has the details:
When his appointees at the Motor Vehicle Commission banned Tesla Motors from selling its electric cars at New Jersey stores, Gov. Chris Christie said his administration was merely enforcing a decades-old state law and that it was up to the Legislature to change it.
Today, an Assembly panel took him up on that challenge.
A month and a half after Tesla was forced to halt direct sales at its two stores in Short Hills and Paramus, the Assembly Consumer Affairs Committee approved a bill (A3216) that would allow it to restart the sales – and open two more stores.
The vote was 4-0.
The vote came just about three weeks after the FTC said states shouldn’t ban direct sales of Teslas. Shares of Tesla Motors have gained 1.4% to $206.87 at 3:16 p.m. today, more than twice the S&P 500′s 0.6% rise.