Why Tesla Keeps Tanking
Forget about crayon drawing charts
Insider stock ownership matters.
Leadership matters.
MSM - mainstream media - paints Elon as a distracted leader who could hurt Tesla’s growth prospects.
That is untrue.
MSM will have its agenda in attacking Twitter. Other tech sites are trying to push the lesser known microblogging sites. Brands like GM and Volkswagon are using Twitter’s new owner as an excuse to pause advertising.
Those automotive firms, unable to catch up to Tesla’s lead, are cutting ad spend because of the economic downturn.
Why Tesla Keeps Tanking
Elon sold shares.
It is that simple.
Below: TSLA stock at a new low.
Below: SEC Form 4 filing.
Per Fintel filings, Elon sold 9,650,000 shares then 5,450,000 shares then 4,400,000 shares.
DIY Results on Tesla
This Tesla trade management played out. The seller avoided losing ~$23 a share in just two days.
Subscribers will find out next if my prediction on Apple plays out.
Bitcoin Falls Big
Binance accelerated FTX’s insolvency. It said it would buy FTX yesterday, subject to the DD. Today, it said that the asset/liability gap is too big.
DIY members here have varying positions in the cryptocurrency segment (from $10,000 - $250,000). Instead of predicting the BTC price target, look more closely at Nvidia (NVDA).
We already anticipated Nvidia to fall when the Ethereum merge and crypto slump hurt hardware demand.
What Nvidia’s done lately is disappointing. This has repercussions on its stock.