Given our recent coverage of TSLA, you wouldn’t be blamed for assuming that things are going very well for them. In anticipation of their 5-to-1 stock split on August 28th, the stock shot up above $2000 a share. But since then, things haven’t been going so well for them, at least if you trust this article from Market Watch.
Tesla stock has gone down for 3 consecutive days.
This article is one of the top results if you search “TSLA” on Google. I’m sure this headline has caused many Tesla investors to panic. This downturn comes after Tesla disclosed that a major investor of theirs has sold off a decent chunk of their shares.
If you are an average investor, with some stake in Tesla that you hope to grow over time, you should not be worried. I’m certain many users over at /r/wallstreetbets making risky bets options trading have lost thousands of $$$. If that is your investment strategy then staying aware of the day-to-day moves of TSLA is certainly important.
But this is not bad news for Tesla. They made a profit in Q2 during the middle of a worldwide pandemic while the rest of the automotive industry has been rocked by record low demand. They’re building a new factory in Austin Texas to build the Cybertruck.
I hardly think a 3-day dip in stock performance after months of growth is newsworthy. But I’m not short-term options trading. For those who are brave enough to dip their toes in that world, this information could literally ruin lives. I don’t mean to throw shade at Market Watch, they’re covering information that people need to know. But it blows my mind that this type of coverage is even required in the first place.
The stock market is wack, so it makes sense that coverage of it is equally crazy.
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