“If the board of directors value their company and shareholders, they need to cut this guy loose like yesterday.”
Maybe. The entirety of Tesla is a cult of personality built around Musk, though. Cutting him loose might be worse. He’d be certain to crap all over the company.
On the other hand, Musk isn’t stupid. He may be trying to get forced out so as to distance himself from the inevitable lawsuits when the company goes belly up. The entire thing is a Ponzi scheme.
Tesla and Musk have been buried in bad news for the last year.
The stock is down 25% from its all time closing high, and the “short interest” is a very daunting 20%.
However, also in the past year, it has made a dozen runs at $360 with strong buying volume, which can only happen with institutional and professional buyers.
If I was still day trading (too old and risk averse now), I would definitely start buying around $270, but with tight sell stops.