Elon has been surrounding himself by "Yes Men and Women". There's a 2700 year old proverb Elon should know since he's been quoting Bible passages. Elon's acting like Solomon's son, he threw away 80 percent of his nation by listening to idiots. "The way of a fool is right in his own eyes, but a wise man listens to counsel" (Prov 12:15).
Given the political polarity of the country, I think there is a good chance Musk has thrown away about half of his potential buyer base. I don't think he fixes that easily. He thought he could "fix" twitter but he is simply trying to turn it into another echo chamber for people who agree with him. The "yes men and women" you speak about, but at twitter, drawn from the public at large. I maintain my short TSLA position. It is going to $5. If it does go at least sub $10, then I think it gets bought out by a competitor. The buyout price will be higher than the market price at the time the takeover is announced. If and when Tesla gets close to $30, I will start accumulating LEAPs.
"Leo built his stake in Tesla during the early days of the COVID-19 pandemic, when the stock traded at a split-adjusted price of about $40" So this guy bought around the $40 price, but didn't sell when the price was above $400, less than 18 months later. Greedy fool.
He drank the kool aid and thinks of his TSLA shares as an investment that should grow in perpetuity rather than the pump and dump operation that it is. No one told him to be short on the back side.
He turned a $1Billion investment into $10 Billion. That was already one of the greatest trades in history. Some people are never satisfied.
Agreed. And I really didn't mean to sound as though I were belittling him. He is far wealthier than I. I'm still trying to turn my $1 into my first $1Billion. I've run it up pretty good, but still a long way off from a billion. I'll keep you posted.
You're talking (your book) out of both sides of your mouth. Tesla is an energy company, not strictly an auto company. True. Their EV's are high margin, not the other stuff. Also true. So why does the first distinction matter again?
Maybe this $150 area is resistance turned to support. Or maybe one of the other lower spots are? But what is not in doubt is that, like the overall market, Tesla is still cratering and likely got much more to go.