Just as we believe that bitcoin will bottom before the S&P 500 Index, in the same way we believe that Tesla will bottom before the other major tech giants.
At present time going down fast and strong would seen like something really bad.
A stock dropping is surely bad for the investors but these markets move in cycle, they go up and down, up and down... At a later point in 2023, things will turn around.
You will see the Tesla (TSLA) stock growing while other tech giants such as Apple, Microsoft and Google will still have a long way down to go.
This will be a positive for Tesla investors, as they will be seeing their stock growing while everything else is still searching for a market low.
Out of crisis, opportunity comes. Once we hit bottom, the only place left to go is up.
This major downturn we will see in 2023, we will turn into a positive once it is over and done.
We learn from mistakes. Out of tough situations innovation and evolution is the result.
Look at Bitcoin/cryptocurrency as an example, it is the result of the 2008/09 fiasco.
South Korea just gave them a 2.2 million fine... something about cold weather and not being able to drive as far as stated during cold weather... i'm still shorting even before this new fine came out in the news.
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Top news: Tesla suspends production at Shanghai plant: Reuters - 11:10 AM ET 12/24/2022
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I don't have an electric car, but my battery just died in this -24F "once in a generation" winter storm that's hitting in the US right now. The age of my traditional non-electric (not a Tesla) battery is about 7 years old. So I read online that my battery sometimes will last 4 years and other times around 7 years. It's not lithium-ion though.
So I'm staying short on this one. Perhaps, a downward for at least 3 to 6 months; depending on the price drops.