Posted on 02/09/2021 9:51:14 AM PST by jdsteel
Seriously after O'Biden had the FAA cancel his next Rocket Test Flight, what a greater way to send a message, your Admin will send us to Inflation or StagFlation so up yours, I'll go to another currency....
Brilliant IMHO....
He famously tweeted that he thought Tesla stock was overvalued. The regulatory authorities came down on him hard for those statements, and he was punished with huge fines by the SEC. The fine was $20 million in stock, which he was forced to buy to compensate the company. Of course, the value skyrocketed, making him millions more in profits. Even when he loses, he wins.
I respect his brain and curiosity. But, with that he has a degree of immaturity that grates on my nerves.
I don’t invest in Tesla—the ratios never made me feel comfortable.
I have some bitcoin (from way, way back when money could be tossed at silly things.) Today he is messing with my bitcoin. Its fine when it goes up—but it gets a little nerve tingling when he can move it 20% with a tweet or release.
That’s just not appropriate for one person in any kind of responsible market.
It’s very volatile. It will drop again no question about that.
A lot of people are mistaken about what Tesla is. They are not a car company; they are a technology company, the car business is a portion of their value. Tesla is making huge profits in energy production, which will surpass car production as their main product. They have many deals worldwide with utility companies to capture and store energy, are a top seller of solar roofs and energy storage for homes and businesses, and are now in business with HVAC products for homes and businesses. In addition, they make efficient batteries, which is one reason the major automakers will have difficulty competing with Tesla in making EV cars. I believe that EV cars will only be 25 percent of cars made by 2035, so gas cars will be around for a long time. But Tesla will much of the EV market as theirs in order to make lots of money, much of it from robo-taxis and transport vehicles. Their stock is going up because of their future value a few years from now.
Why is there a question about cryptocurrency on this year’s tax return? I saw it while doing my daughter’s tax return using Turbo Tax.
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If and when they get a 1099 - then I will report gains.
That’s over half a $Billion for those in Rio Linda.
“ A lot of people are mistaken about what Tesla is. They are not a car company; they are a technology company, the car business is a portion of their value. Tesla is making huge profits in energy production, which will surpass car production as their main product. “
No, they aren’t making any profits in energy production let alone huge profits.
“They have many deals worldwide with utility companies to capture and store energy, “
Read a little about the tiny bit of electricity “captured”, and how that is usually from overflow of the erratic solar and wind power produced at certain places. It messes with the utilities quite a bit and would not exist without government interference in the market.
“...are a top seller of solar roofs and energy storage for homes and businesses,”
Did you ever look at their business model? It equalizes power usage from places like Arizona to places like North Dakota artificially.
“...and are now in business with HVAC products for homes and businesses. In addition, they make efficient batteries, which is one reason the major automakers will have difficulty competing with Tesla in making EV cars.”
Car magazines regularly report far fewer than reported range mileage, problems with fit and finish and other quality control. Check out the You Tube video of a guy that just bought a Tesla and the roof blows off while he’s driving it home.
“ I believe that EV cars will only be 25 percent of cars made by 2035, so gas cars will be around for a long time. But Tesla will much of the EV market as theirs in order to make lots of money, much of it from robo-taxis and transport vehicles. Their stock is going up because of their future value a few years from now. “
My point is that expected future value has been greatly overestimated for years.
What will you be saying when it's $100,000? Almost certain, since it is nearly $50 BEFORE Biden and Pelosi push through $1.9 trillion in new deficit spending.
“What will you be saying when it’s $100,000? “
Should that happen I’ll say the same thing. Maybe in all CAPS.
All your bitcoin are belong to us.
Good charts will show that it has a history of 75 to 80 % corrections without fail, so far.
And you would be wrong, as well as wrong on most of your rebuttals. The only thing you may have any remote sense of factual information, is about quality control issues. Yes, they have complaints about fit and finish, which gets resolved on a continual basis. This is expected with new vehicles. I can tell you from personal experience about GM vehicles which are worse. One of my bosses had to sue GM because his new Chevy was in the shop almost 80 percent of the time he owned it in the first 2 years, for fit and finish, engine, trans, and differential failures, and chassis problems. He got a nice settlement from GM and never bought another American car.
As for me, I don't own a Tesla. But I do own Tesla stock, and made 9 times my investment in 2020, and will own it as long as it continues to grow.
“ As for me, I don’t own a Tesla. But I do own Tesla stock, and made 9 times my investment in 2020, and will own it as long as it continues to grow.”
Good luck to you. It’s a highly speculative, highly overpriced stock that is now dabbling in an unregulated crypto currency.
What could go wrong?
Nothing. I buy on dips and low prices. After a set period of time when the stock has made multiples of my investment, I sell some at high prices and recoup my initial investment. The remaining stock I hold is pure gravy - if it collapses I have lost nothing. I own a number of stocks that have done well, where I have recouped my investment. Some are speculative, but most are sure bets. Yes, it's a form of gambling but I do my homework. Some that don't climb quickly or are not interesting, I divest. I just sold Nissan stock last week, made a profit - their new Ariya is competition to the Tesla Model Y, and the stock is climbing slowly. You can either spend your money on a product that depreciates in value, or buy into a company and grow your money - your choice.
I hope it doesn’t drop that far!!
And you can gamble, to use your own phrase, on highly speculative instruments and win or lose big.
That’s fine, knock yourself out and good luck to you.
But that in no way, shape or form legitimizes the current price of either TSLA or Bitcoin. Your gambling profits or losses come despite that reality.
You simply don't get it, naive. I have made my own good luck and fortune. No debts, great investments, and large cash reserves. My wife and I started with nothing long ago. Our "gambling" on stocks is purely a hobby, and we have nothing to lose. TSLA continues to grow, and short sellers continue to get screwed because they think like you. As for Bitcoin, I don't own but invested in a company that does deal in it, and have seen those stocks multiply in value recently. One of my daughters had Bitcoin but unfortunately sold it recently, and only made double her investment. We don't lose big, and really haven't lost in the big picture. I don't know what you do, or how well you're doing, but good luck to you also.
All of that is nice.
It still doesn’t change the facts.
The facts are TSLA has a P/E North of 1200.
The fact is Bitcoin is an unregulated cyber security.
You are saying the equivalent of “I have a winning system of how to play blackjack and a nice family”.
I wish you luck with your (your words) gambling.
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