Ouch, appears to be down 12% AH. I hope nobody got hurt too bad. For the weekly contest I picked this as a short and it made no sense to me chartwise why it continued higher this week. Do you suppose someone knew what the SEC was planning to do and ran the price higher to unload and/or get short going into this news release? Nahhh, what am I saying? That wouldn't be ethical . Insider trading is legal for members of congress. Business as usual? https://www.cbsnews.com/news/congress-trading-stock-on-inside-information/ Oh, and I shouldn't forget about the revolving door between the SEC and Goldman Suchs. Gotta love the Merkin Empire.
This SEC-lawsuit drop decidedly negates the Elon-Tweet sign-of-strength and as I suspected awhile back, the low bar of early September would get tested. Comparing volumes and by virtue of the low range close, leaves little doubt the bottom of that bar and likely the swing low from April will get tested. I suspect it will pause there and maybe even catch a little bounce, but unless the volume miraculously dries up and demand appears, I'd have to conclude the stock has been fully distributed to the public over this past year. Although the home gamers or Muppets as Goldman Suchs calls them, may be true believers, they are such of varying degree and fortitude, and being fragmented, the selling could continue, and then all the news will be bad news, because the Wall Street machine needs them to believe it is the circumstances driving the stock lower and that it has nothing to do with a situation in which the big boys sold and got short at the top and will no longer step in to support price. But we need to wait and see the character of the reaction in the 252 to 244 area I think. Daily:
I think Elon should pay the fine. He made a huge mistake. He is in danger of causing serious damage to Tesla if he is convicted of criminal price manipulation. Meanwhile, Tesla is beta testing fully autonomous driving. Buckle up, Tesla investors. We're on a wild autonomous Tesla ride and it's going to be ludicrous.
Glad that I took advantage of drop last Friday and added two more contracts: News: Tesla made a record 80,000 vehicles last quarter, report says https://www.cnbc.com/2018/10/01/tesla-made-a-record-80000-vehicles-last-quarter-report-says.html Tesla’s stock soars after surprise SEC settlement, hint of profitability from Musk https://www.marketwatch.com/story/t...nt-hint-of-profitability-from-musk-2018-10-01
I missed the option play, that was where the real money was made. Bought some shares A.H Friday and sold P.M. this morning , was looking for 5% gain was very happy to clock out at nearly 15% I love these types of plays...
Earnings call tomorrow (Oct 24 @ 3:30pm... I think PST). The stock price went up $37 today, the day before the ER. Is there anyone left who does not think this stock is under significant manipulation.
Baird, New Street Research, JMP, Consumer Edge, all bumped up their ratings just before the ER. https://www.teslarati.com/tesla-tsla-wall-st-outlook-q3-2018-earnings-report/ So, analysts are pissy and negative, abundant news smears, and they start whistling a happy tune moments before the ER? The SEC has no moral authority going after Elon Musk. Sure, Elon did it wrong but he is a drop in an ocean of corruption and manipulation. I give it two weeks before the relentless negative news cuts back in with a carefully controlled message of negativity.
In Elon We Trust! Sold my DEC $250 calls before ER for a very decent profits, wishing that I had balls to hold it through ER. Oracle's Larry Ellison Discloses Tesla Stake, Sees ‘A Lot of Upside’ https://www.bloomberg.com/news/arti...n-says-tesla-is-his-second-biggest-investment Tesla shares updates on workplace safety, CAL-OSHA investigation results https://www.teslarati.com/tesla-releases-workers-safety-update/
Gotta say TSLA never catch a break. The FBI is reviewing Tesla's Model 3 production numbers as part of a criminal probe: WSJ https://www.cnbc.com/2018/10/26/tes...ion-numbers-and-misleading-investors-wsj.html
Why would you assume they overlooked the investigation? Perhaps they ignored the investigation, like I would. As near as I can tell, there was a period of 5 trading days prior to the EC during which the negative smears subsided. During the final moments of that time, most of the ratings agencies raised their outlooks on Tesla. Think about that. They raised outlooks just prior to release of quarterly data. Either they knew the company was doing fine and they raised the outlook to save what modicum of image they think they have left, or they had information before the public did. I thought we would have a week or two after the EC before the negative Tesla news ramped up again but it appears not. The smear machine cranked up within 24 hours. Breitbart and CNBC are the most virulent of the anti-Tesla media outlets. Any guesses on how long before rating agencies lower their outlooks on Tesla? I speculate 3 weeks after EC. Please notice, I'm not suggesting all Tesla news is fake news. Some of it might be factual but the ratio of truth or even reasonable perspective is dwindling. I don't see how it is possible to invest in Tesla if you have any confidence at all in the news media.
Does anyone recall reports of egregious safety violations at Tesla? How about when it was reported workers walked through raw sewage on the production line? https://www.cnbc.com/2018/07/12/tes...ee-red-bull-walked-through-sewage-report.html CAL-OSHA investigated a long list of safety violations with this result. CNBC = Corrupt National Broadcasting Corporation I do not invest generally in America. My only US holding is Tesla, although I have two other Canadian holdings with minor exposure to the United States. All systems have corruption but excessive corruption keeps economies from moving forward. I expect it will have the same effect on America.
Jaguar I-Pace, said to be a Tesla killer, has been killed by Tesla in real world testing. lol! The only ones surprised by this are the Tesla bears who refuse to believe anything positive about Tesla. The more time goes by, the more clear it is becoming that Tesla is going to be difficult to impossible to dethrone. The only company that seems to have a chance, even on the medium term, is Audi. In Audi's case, they are going to fail miserably on the short term. The current sound bite out of VW is they will have a car as good as Tesla for half the price. If you believe that's possible, you are a Tesla bear.
This brings me to auto industry projection and speculation.... Most of the current car companies will be going away. Building a good electric car is an extremely difficult task, only accomplished by hard work and long term investment. I believe Audi has the focus to become a major player in the EV industry, over time. Of course, their near term offerings will not lead the industry technically but I expect they will be decent and will improve with time. Audi is an excellent engineering company. Hyundai will probably also do well, on the long term. Their EV projects keep being cancelled due to shortage of batteries but, sooner or later, they will build their own battery factory with an industry partner and that will secure the supply chain. As for the rest, it's difficult to say. It's not obvious who will make the transition. Toyota has a chance but they continue to talk about fuel cell vehicles so it's not clear they get it. Maybe they can pull a fuel cell rabbit out of a hat but I doubt it.
I just got back from a trip to San Fransisco, the number of electric vehicles on the road was surprising! I guess it was surprising compared to where I live, but every single parking lot had an EV parking section which was always full.
It's starting to look like the Tesla Semi will be produced at a new facility that is currently being built in Lathrop, CA.
