Tesla Pumps And Dumps After Earnings Beat; Sells 75% Of All Bitcoins

[The_Krakenite]

Remarkably this means that without the sale of bitcoin, Tesla's free cash flow of $621 million would have been negative for Q2!

https://www.zerohedge.com/markets/tesla-surges-after-beating-across-board-maintains-upbeat-outlook

 

[TrailerParkTed]

“The company appears to have lost around $150 million on its bet in the cryptocurrency since its 2021 purchase, selling the coins for $963 million”

https://techcrunch.com/2022/07/20/tesla-dumped-75-of-its-bitcoin-holdings/amp/

 

[DaveV]

“The company appears to have lost around $150 million on its bet in the cryptocurrency since its 2021 purchase, selling the coins for $963 million

The only thing that matters is what is the stated value of the crypto on the books. If they had a low valuation, they can claim a nice profit on the sale.

 

[SunTrader]

The only thing that matters ... is traders buying and selling effect on so-called fair value. And if post market is any indication they are saying meh!!

 

[Tokenz]

That's good to know they sold their Bitcoin, that's one whale off the list.

 

[RedDuke]

That's good to know they sold their Bitcoin, that's one whale off the list.

Be mindful what you wish for ….

 

[Tokenz]

Be mindful what you wish for ….

Ok sounds good since I didn't wish for anything anyway...

 

[maxinger]

They should employ professional traders (who use charts and not faith) to trade BTC.

they will
buy low sell high &
sell high buy low.

what they were doing was
uptrend - buy and hold
downtrend - buy more

 

[Jzwu2017]

I still do “uptrend - buy and hold”, but almost got rid of “downtrend - buy more”. Also trying hard to “buy low sell high & sell high buy low”.

 

[JackMorgan]

That's good to know they sold their Bitcoin, that's one whale off the list.

whale ? lolololol. not even a minnow