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Suppose a stop loss or trailing stop would have exited your position. 128 ETFs have Tesla in them and 55 have it as a top 15% position. Those ETFs likely have

Suppose a stop loss or trailing stop would have exited your position. 128 ETFs have Tesla in them and 55 have it as a top 15% position. Those ETFs likely have rules based on the sort of drop we saw today. It’s easy to speak personally about not being an active trader but a careless tweets like this have consequences and can hurt people. The only argument to be made is that Elon doesn’t understand the effects of a tweet like this but I think we all know he’s a pretty smart guy.

remarkEon 6y ago
Oh I'm sure he absolutely understands the effects of a tweet like that, but I don't think he cares. Said differently, perhaps this is his way of pointing out the absurdity of Wall Street and all the financial engineering that goes on there. Or maybe he wants to sell the company and thinks it needed to drop X% before a buyer would emerge.
- jariel 6y ago
  " perhaps this is his way of pointing out the absurdity of Wall Street and all the financial engineering that goes on there." There is nothing absurd about the fact he's an insider, and has access to the vast amounts of information, that people have trusted him with billions of dollars and that the flow of information is governed by rules, and it's an issue if integrity. It's a lot of money and responsibility, it's not a joke. Nobody is concerned that he Tweets weird things about his GF, that's fine, but he can't tweet things that need to carefully communicated, it's just irresponsible.
tenpies 6y ago
The other part of that equation is that if I'm a fund manager, I have a fiduciary duty to my clients. Tesla has had a ton of red flags this week: * General counsel quit * Board no longer has insurance, Musk is "insuring" with . . . Tesla shares * The Q1 financials are extremely suspicious * Musk's meltdown during the ER call * Musk's actions in the NASA conference * Musk's meltdown on Twitter * Musk's meltdown basically guaranteeing another SEC investigation As a professional, you really have to check if it's in your client's best interests to continue to be exposed to this.
- mlindner 6y ago
  I'm not seeing any news about the general counsel quitting. That happened in December.
  - pushingice 6y ago
    Deputy General Counsel. It was on his LinkedIn.
- jahlove 6y ago
  where'd your other commment on Tesla's stock go?
jrockway 6y ago
> tweets like this have consequences and can hurt people Sometimes I wonder if this is just an attention-seeking thing. People feel lonely, and then they say dramatic things to get attention. "Tesla is overvalued" -> stock tanks -> "hey people notice that I exist". I have a lot of friends that I met playing games and this is a super common tactic. Instead of messaging me with "hey, want to play?" I get "i'm thinking about killing myself". The end result is the same, we play the game. I personally find it more enjoyable to play as a fun way to kill some free time, but they must get better results when their friends think they're distracting them from a suicide attempt. So they use what works. I have to think that Elon Musk is up to something similar. I wonder if he has a therapist. It could help.
- rootusrootus 6y ago
  Average Joe has to say something dramatic to get attention. Elon Musk can say literally anything and have 10s of millions of people paying attention.
huonpine 6y ago
Twitter is a simulation of our world created by users content, the accuracy of the simulation with relevance to our own world is extremely debatable and should be treated thusly.

remarkEon 6y ago

Oh I'm sure he absolutely understands the effects of a tweet like that, but I don't think he cares. Said differently, perhaps this is his way of pointing out the absurdity of Wall Street and all the financial engineering that goes on there. Or maybe he wants to sell the company and thinks it needed to drop X% before a buyer would emerge.

jariel 6y ago
" perhaps this is his way of pointing out the absurdity of Wall Street and all the financial engineering that goes on there." There is nothing absurd about the fact he's an insider, and has access to the vast amounts of information, that people have trusted him with billions of dollars and that the flow of information is governed by rules, and it's an issue if integrity. It's a lot of money and responsibility, it's not a joke. Nobody is concerned that he Tweets weird things about his GF, that's fine, but he can't tweet things that need to carefully communicated, it's just irresponsible.

tenpies 6y ago

The other part of that equation is that if I'm a fund manager, I have a fiduciary duty to my clients. Tesla has had a ton of red flags this week: * General counsel quit * Board no longer has insurance, Musk is "insuring" with . . . Tesla shares * The Q1 financials are extremely suspicious * Musk's meltdown during the ER call * Musk's actions in the NASA conference * Musk's meltdown on Twitter * Musk's meltdown basically guaranteeing another SEC investigation As a professional, you really have to check if it's in your client's best interests to continue to be exposed to this.

mlindner 6y ago
I'm not seeing any news about the general counsel quitting. That happened in December.
- pushingice 6y ago
  Deputy General Counsel. It was on his LinkedIn.
jahlove 6y ago
where'd your other commment on Tesla's stock go?

jrockway 6y ago

> tweets like this have consequences and can hurt people Sometimes I wonder if this is just an attention-seeking thing. People feel lonely, and then they say dramatic things to get attention. "Tesla is overvalued" -> stock tanks -> "hey people notice that I exist". I have a lot of friends that I met playing games and this is a super common tactic. Instead of messaging me with "hey, want to play?" I get "i'm thinking about killing myself". The end result is the same, we play the game. I personally find it more enjoyable to play as a fun way to kill some free time, but they must get better results when their friends think they're distracting them from a suicide attempt. So they use what works. I have to think that Elon Musk is up to something similar. I wonder if he has a therapist. It could help.

rootusrootus 6y ago
Average Joe has to say something dramatic to get attention. Elon Musk can say literally anything and have 10s of millions of people paying attention.

huonpine 6y ago

Twitter is a simulation of our world created by users content, the accuracy of the simulation with relevance to our own world is extremely debatable and should be treated thusly.