Seeing the writing on the wall, some of Elon Musk and Tesla's biggest boosters are dumping their stock position in the company in large part over his actions since he assumed a major role in Donald Trump's administration.According to a report from the Wall Street Journal, Tesla's precipitous stock d...
  • casmael@lemm.eeEnglish
    17·
    2 days ago

    I completely agree. The stock market is a strange thing and nobody knows what will happen next except for whoever is rigging it but:

    • Tesla execs have been selling Tesla stock ‘hand over fist’, ‘by the bucketload’ for months
    • sales are down a lot basically everywhere
    • with my financial hat on I wouldn’t touch this with a ten foot pole I basically think the brand is too toxic I don’t care how cheap it gets
    • Tesla is so heavily pumped it’s still way way way overvalued at current prices, like I can’t be bothered to explain how much but it’s a lot
    • investment firms are slowly lowering their price targets for this stock
    • Lehman also told their employees to hold stock just before they went bankrupt
    • SaturdayMorning@lemmy.caEnglish
      2·
      50 minutes ago

      I agree with this. tesla is more about “vibes” than sales numbers and profit margin atm. This unfortunately does provide opportunities for “pump and dump” day trading. Another problem is that institutional investors have access to premarket/after market trading, creating an unfair advantage against retail investors.