Tesla Shares Fell after Gigafactory Event

Tesla Shares FellTesla Motors Inc. CEO Elon Musk said that their stock price is kind of high at the moment. This triggered a fall on their shares closing at $286.04 yesterday. The company is up 90% this year.

The event was the announcement of the Gigaf½actory that will be built in the state of Nevada. The huge factory will manufacture lithium-ion battery.

Nevada is proud to be the home of the Gigafactory after winning the battle of incentive packages versus Austin and other states. The Golden State offered Tesla Motors Inc. a total of $1.25 billion in incentive and sales tax package.

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