TSLA Crashes to $5 per Share

[SunTrader]

...

As far as the shares go, any substantial rally attempt will need a weekly close back above $138.73. It is a magic level for these shares. You can see today how it is pivoting around that level. Any traction above could give be enough to spark a multi-day or even a multi-week rally.

A weekly close below that level and if it doesn't recover soon after next week's open, then she could really gain momentum toward her destiny at $5 per share. Next week closes the not only the month, but the quarter and the year. TSLA bulls need next week's close to be higher than $138.73.

I see $136.31 as weekly long term support from breakout point (although not to the penny obviously):-

 

[VicBee]

maybe you are right about Tesla because musk is so polarizing. But I still think the number of consumers don’t care when it comes to buying stuff. They will buy the product most appealing to them and Tesla’s are sexy.

I wish that was true but it's not. I know several WW2 children (my father one of them) who will never buy a German car.

Frankly, I'd rather see Musk commit to Twitter and be ousted from Tesla by shareholders.

 

[Rams Fan]

I'd rather see Musk committed

Nurse Ratchet would get him straightened out.

 

[Overnight]

Nurse Ratchet would get him straightened out.

She was a hottie back in the day.

 

[Rams Fan]

She was a hottie back in the day.

RIP Louise Fletcher.

 

[Rams Fan]

TSLA is generating margin calls on a now daily basis. A lot of shares are in the hands of people with a cost basis below $20/share.

But now anyone with a cost basis above $260 is or has been margin called if they bought using full margin.

At some point, those with the $20/share cost basis or lower will also start liquidating to preserve some profits.

TSLA is now a a train on a downhill heading that has lost nearly all its breaks.

Price & volume are not just important by the minute or by the day. What was traded and at what price matter for a long time.

 

[lwlee]

TSLA @129. Geez, there could be a panic sell by some institution at some point (Cathie Woods?). Just so weak right now.

 

[Rams Fan]

there could be a panic sell by some institution at some point (Cathie Woods?)

That lady seems to have zero ability to course correct and not an ounce of humility before the reality of the market.

ARKK to $0. It will be liquidated and a no longer trading ticker by the end of 2024 if not before.

 

[lwlee]

That lady seems to have zero ability to course correct and not an ounce of humility before the reality of the market.

ARKK to $0. It will be liquidated and a no longer trading ticker by the end of 2024 if not before.

According to this link, ARKK cost avg for TSLA is 108.39. 3rd biggest holding. It was the one bright spot.
https://cathiesark.com/

 

[Rams Fan]

According to this link, ARKK cost avg for TSLA is 108.39. 3rd biggest holding. It was the one bright spot.
https://cathiesark.com/

I'd be curious at this point to get ahold of the prospectus. Do you know if she uses margin, or is she restricted to invest only up to the actual cash holdings of the fund?