There has been significantly increase volume lately on the days that have high amounts of selling pressure, usually clear signs of a trend reversal, especially with the gap down that just occurred. I could see the Tesla cult trying to come back and buy buy buy it back up over 1500-1550, but in the end, they will just end up being bag holders.
Tesla's finances are a clear danger sign. CFO's constantly quitting. Who would pass up on the enormous payday of being a shareholder or getting bonuses in Tesla shares? I can tell you who, somebody not comfortable cooking the books, so they get out of dodge and let the next guy handle it...who does the same thing. When you see drastic CFO turnover, where there is smoke, there is fire. Tesla had drastically reduced US car sales, profitable this quarter thanks to selling a serious amount of carbon credits. This will not be maintainable for the rest of the fiscal year. It is highly unlikely that this stock stays above of $1000. Unless we go to war with China and the cyber truck ends up being the new Hummer for our defense strategy, I will not be touching any Tesla calls or shares in the near future.
Bulls and Elon cult won't like this analysis, but reality is setting in and Tesla is not worth more than every car company in the US. Their auto driving is a gimic, anybody with half a brain does not want computer software steering a car into a wall for them.
Not financial advice, just sharing my position.
Tesla's finances are a clear danger sign. CFO's constantly quitting. Who would pass up on the enormous payday of being a shareholder or getting bonuses in Tesla shares? I can tell you who, somebody not comfortable cooking the books, so they get out of dodge and let the next guy handle it...who does the same thing. When you see drastic CFO turnover, where there is smoke, there is fire. Tesla had drastically reduced US car sales, profitable this quarter thanks to selling a serious amount of carbon credits. This will not be maintainable for the rest of the fiscal year. It is highly unlikely that this stock stays above of $1000. Unless we go to war with China and the cyber truck ends up being the new Hummer for our defense strategy, I will not be touching any Tesla calls or shares in the near future.
Bulls and Elon cult won't like this analysis, but reality is setting in and Tesla is not worth more than every car company in the US. Their auto driving is a gimic, anybody with half a brain does not want computer software steering a car into a wall for them.
Not financial advice, just sharing my position.