FuckMusk

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This is a community designed to enjoy the extended downfall of Elon Musk.

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‘I don’t care, I want out’: Tesla fans dumping stock in 'irreparably damaged' company (www.rawstory.com)

submitted 2 days ago by KingPorkChop to c/FuckMusk

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[–] [email protected] 19 points 2 days ago (1 children)

I completely agree. The stock market is a strange thing and nobody knows what will happen next except for whoever is rigging it but:

Tesla execs have been selling Tesla stock ‘hand over fist’, ‘by the bucketload’ for months
sales are down a lot basically everywhere
with my financial hat on I wouldn’t touch this with a ten foot pole I basically think the brand is too toxic I don’t care how cheap it gets
Tesla is so heavily pumped it’s still way way way overvalued at current prices, like I can’t be bothered to explain how much but it’s a lot
investment firms are slowly lowering their price targets for this stock
Lehman also told their employees to hold stock just before they went bankrupt

[–] SaturdayMorning 2 points 15 hours ago

I agree with this. tesla is more about "vibes" than sales numbers and profit margin atm. This unfortunately does provide opportunities for "pump and dump" day trading. Another problem is that institutional investors have access to premarket/after market trading, creating an unfair advantage against retail investors.