SolarCity's skyrocketing stock dependent on government tax giveaways
Critics say it's an abuse of taxpayer dollars -- and a risky investment.
"I could see no rational reason why anybody would put money behind this company," said William Yeatman, a senior fellow with the Competitive Enterprise Institute, a free-market think tank in Washington, D.C. "They have been the beneficiary of $11 million from the stimulus and $411 million from subsidies. It's a crass market decision based on political considerations. Anyone taking this stock is making a bet that the federal government will not turn off these subsidies.