In yesterday’s CNBC.com article entitled “Lawyer: SEC Should Look Into Goldman’s Tesla Call,” Andrew Stoltmann stated that the Securities and Exchange Commission (SEC) should investigate Goldman Sachs’ upgrade of Tesla stock. Critics of the upgrade state that the investment bank has already had to underwrite a $1.7 billion stock sale, and this is worrisome. Stoltmann said “To start investigating, all the SEC has to do is have a belief that something amiss may have happened.”
On Wednesday, Goldman Sachs revealed the upgrade of Tesla stock to “buy” from “neutral,” stating that it doesn’t “believe Tesla shares are fully capturing the company’s disruptive potential.” Tesla share rose that same day, but at the end of the day, Tesla announced its stock offering would be co-led by Goldman, and the shares gave back gains, falling into the red. The shares went up more than two percent yesterday. Stoltmann was quoted as saying Wednesday’s roller-coaster ride for Tesla stockholders represents the bank employing a “Swiss-cheese wall” between divisions instead.
For the whole article, please click on the link below:
Disclaimer
The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.
