Some Tesla Investors Put All Their Eggs in One Electric Car 'Basket'
In June of last year, Patrick Hop poured his life savings — $30,000 — into Tesla Motors Inc. stock, then trading at about $32 per share.
When the stock hit $115 this past July, he dumped all his shares and invested in options on Tesla stock, which are high-risk bets on the stock’s future performance.
Now, Hop, a 22-year-old senior from Millbrae, Calif., who is studying applied math at the University of California-Berkeley, estimates he’s made about $250,000 — on paper, at least.
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