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No guarantees. I'm of the opinion that TSLA's stock has largely dropped due to Elon Musk selling $40,000,000,000+ worth of stock over the last couple of years.
by dragontamer 4y ago
No guarantees.
I'm of the opinion that TSLA's stock has largely dropped due to Elon Musk selling $40,000,000,000+ worth of stock over the last couple of years.
Look at every major TSLA price drop. They coincide with Elon Musk's sells. Ex: Elon Musk's December 14th filing (https://www.sec.gov/Archives/edgar/data/1318605/000089924322038522/xslF345X03/doc4.xml https://www.sec.gov/Archives/edgar/data/1318605/000089924322...), or Elon Musk's November 11th filing (https://www.sec.gov/Archives/edgar/data/1318605/000089924322035394/xslF345X03/doc4.xml https://www.sec.gov/Archives/edgar/data/1318605/000089924322...), etc. etc. Feel free to search SEC's "EDGAR" database for Form 4, Tesla and Elon Musk.
Now line these up with TSLA's stock price. What pattern do you see?
When a "whale" sells huge amounts of stock, it just causes the price to drop. No matter what the fundamentals are.
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Now "why" is Elon selling TSLA stock? Is it just to fund Twitter? Or is Elon cashing out of TSLA because he's losing confidence in it? Hard to say, its not like the man is very honest about his intentions (and he shouldn't be).
But its always a good idea to keep an eye on the actions of the insiders and how they trade.
- rootusrootus 4y agoEven if there are correlating events, I think TSLA drops overall because it simply isn't worth 10-15x GM, Ford, or Toyota. It's just a car company in the end, and there's plenty of competition for making cars. There was a hype bubble around automation for a while, but the market won't likely stay irrational forever.