When you short a stock, you make money when the price goes DOWN.
When you short a stock, you make money when the price goes DOWN.
People have soured on EV’s.
EVs depreciate quickly since the battery, which cannot be economically replaced, is not likely to be efficient or even functional after three or four years. Extremely limited market for used EVs. Range and repair issues remain huge. Even Musk has to obey the laws of physics. The whole concept had inherent problems and contradictions from the onset. Not least of which is that the electrical grid could never accommodate an American fleet that was 30% EVs.
You make money when the stock goes down. But it’s dangerous.
Buying long, worst case is you lose your money.
If you short, you can lose more than your investment. There is no limit to how much a stock can go up.
Personally, I wouldn’t short Musk.
The Democrat party will do everything they can to demolish Tesla
That would explain all the bad press. He’s probably short Boeing, too.
EVs and Tesla used to be media darlings. Then Elon dared to support Free Speech and (gasp!) met with Trump.
Now I’d say 97% of Elon articles are negative.
EVs are likely to see wider acceptance with the much better batteries being developed.
He is correct if you look at every Tesla dealership throughout the country, they have hundreds of cars parked at each one. They are not selling. Here’s the news article from St. Louis on May First 2024. There’s at least 500 Teslas parked at the old abandoned Chesterfield mall.
Tesla was up 2% today, just under $172.
In after hours trading - TSLA is unchanged as I write this at 1:35 PM PST.