Tesla has now erased 2 years of good points and is down7% at present in one other day of heavy promoting.
Shares began the month close to $200 and at the moment are buying and selling at $127.76, a stage that was first hit in August 2020.
This seems lots like tax loss promoting nevertheless it’s additionally a continuation within the lack of confidence in Elon Musk. His buy of Twitter is already destined to be one of many worst M&A offers of all time, not just for the overpayment however for the destruction of the parable across the Tesla founder.
What’s scary is that Tesla nonetheless trades at a dramatically greater a number of than different automakers and Tesla’s opponents are coming exhausting for market share in EVs.
Greg has an amazing put up on ARKK and TSLA.
