Friday, June 6, 2014

Tesla Motors Gains as New Jersey Committee Votes to Allow Direct Sales

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 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.

Top 5 High Dividend Companies To Watch For 2015

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.

No comments:

Post a Comment