On April 3rd, Elon Musk tweeted the pre-orders had hit 276 thousand for Tesla's Model 3. This was an improvement to the March 31st launch, but contrary to faulty headlines, sales were still under one billion dollars. Why then was there mention of over $7 billion in sales?Three aspects under review in this article:
The $1k fee exchanged was for a contract agreement that Tesla (NASDAQ: TSLA) calls a "Reservation." It contains ambiguous terminology, bilateral cancellation (optional refund) and no set price of sale... Continue at HubPages.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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Articles are written by Travis Brown at Seeking Alpha. Information covers stocks in the NASDAQ stock market and NYSE stock market.