Tesla Burning: Down 30% In Days As Markets Blindsided By Worst Weekly Selloff Since The Financial Crisis


105
13 shares, 105 points

Stocks take the stairs up, and the elevator down … usually. In Tesla’s case, they took the elevator both up and then pull back once again.

While Tesla longs might have won the last month or more as the stock ripped from $300 to almost $1000 on a huge brief squeeze – they are now beginning to discover the extremely essential (and really overdue) saying that when the tide goes out, you see who is swimming naked.

Yes, every millennial and bothersome relative crowing over the last 2 months at household gatherings and gatherings about what investing geniuses they are for buying Tesla is now rushing to knock the sell button and get ahead of what is most likely to be continued, non-stop selling, as the coronavirus pandemic continues to grind the worldwide economy to a halt and strike the investing public with fear of the many unknowns that still remain.

Tesla is down about 12% today up until now and about 30% off its 52 week highs.

And Elon Musk, who had the chance to fortify his company’s balance sheet and settle all his debt at a ludicrous appraisal simply weeks back, might now be dealing with the truth that the train has actually left the station.

On the other hand, according to Robintrack which tracks bagholders retail financiers – people have not even started to lighten up on the name yet …

… which implies we might only be seeing the very starting.

We constantly knew that individuals who had actually gotten in the financial world over the last 10 years would ultimately need to learn that markets merely do not always go up, with no concerns asked.

Now, it’s becoming clear that Tesla may wind up mentor that harsh lesson to numerous who frantically need it.

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105
13 shares, 105 points

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