Apparently, some traders thought they could make some serious money Thursday on a Tesla-related penny stock, driving it up 10,000% in a matter of hours. But will they be able to collect?
That's the big question surrounding Riviera Tool (RIVT), a machining company based in Grand Rapids, Mich. The Detroit Free Press reported Wednesday night that electric-car maker Tesla Motors (TSLA) plans to acquire Riviera Tool, and its stock went through the roof in over-the-counter trading.
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That's what can happen when your company appears to be poised to take a new name that could be magic with investors: Tesla Tool and Die.