I won't waste my ink here on Tesla, just my 2 cents. Looking at 🐯 posts, I don't think I will get many fans with what I am going to say.
Tesla, to me, is built on a promise... or a dream (mirage if you asked me). Its valuation does not add up. Of course not, it's floating in the air... hot air! That's why whatever Elon Musk asks, retail investors blindly give. That is not what a good company with proper business and appropriate valuation should behave.
A company with proper products or services will continue to do well even if a bad manager comes on board! Just look at $McDonald's(MCD)$ for a good comparison... mistakes were made, but the company lives on beyond the bad manager.
With such an unstable foundation, it does not take much for bubble to pop... yes, it is a growing bubble in the making. Tesla is priced beyond perfection if you asked me.
I totally get it how Elon Musk has such a following. Like a cult leader, he can do no wrong. When he over promised (which is 100% certainty - didn't know there's such a thing in life), everyone simply dismissed it as "visionary".
Robotaxi, humanoid, 🧠 implants, Mars takeover, anything we can think of. Some people called him inventor. Calling a spade a spade. Capable manager and storyteller, charismatic leader I would give it to him. Never inventor. He bought Tesla to begin with. The rest are just stuffs of bored rich brats looking to see what money could get you. When he runs out, he will just come back to his personal piggy bank (Tesla) to get. If the shareholders have second thoughts, he threatened! Is that what a good leader should behave. No! That is what you would expect of a spoilt brat.
You get my take... On both Tesla and Elon Musk. Why is it so difficult to short Tesla?
The stock is a momentum stock (I didn't say growth), so it's not easy and it goes both ways. Timing is paramount. That is where the problem lies. Timing the market is always difficult, if not near impossible. I admit that I have been early in many counts with Tesla.
Cathie Wood is a totally different issue. In fact, I am a little worried when I realised she had sold some Tesla. If you have read my article, she's some sort of an indicator for me. Some sort of Cathie Wood index. She sells I buy and vice versa. [Facepalm] [Tongue] I will need to see if I am again too early in my bearish positioning. The only reason why I am not taking the gains off the table is due to the paragraph above - momentum stock. It is normally easier to be bearish with Tesla when the whole market is 🐻. When traders are pulling money 💰 out everywhere to compensate for their loss, Tesla, having storing excessive fats, didn't take long for one to take some money 💰 off the bet.
Yup, the double top I mentioned in an earlier post is real. The only question is if the correction dips past the uptrend line. It seems to be case as I type. But it's only pre-market phase. We need to let time does its thing and see how it ended up when the market closes tomorrow (my time). If the correction is indeed confirmed, see you around $321. It is still early day. Only time will tell if I am correct this time.
Shared two photos. One is obviously the charts I refer to. The other is where I think the problem Tesla will faced in the long run. With talents leaving, even a genius can't do much... Not all by himself anyway...
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