So there were 2 times in 1 year that Elon Musk did something controversial.
First, he smoked weed on a podcast on September 6th, 2018 and stock dropped 9%. But it quickly recovered. Despite the fact that 1 year ago he said in an interview that he doesn’t smoke pot because it makes him lazy. (I can’t find it on youtube anymore)
And after that in 2020 when the stock was trading at around 700-800$ range he announced on twitter that the stock is too high.
Needless to say, the stock dropped a bit then there was an EPIC pump above 2000$.
My assumption is that they are using these moves to buy back shares of their company.
The next time Elon Musk does something similar be very cautious. You will never know what their plan is. Are they trying to bring the stock up or down?
After that video, Tesla lost 9% in shares. Needless to say, the stock recovered quickly and then some.
The famous tweet: Tesla stock price is too high imo.
After that tweet tesla stock lost some % but quickly began its epic bull run beyond 2400$. And now its made a 5-1 split. So every one holding 1 Tesla stock got 5 of them worth 5times less.
It will be interesting where this goes. Because I don’t know if Tesla is really that superb of a car. I mean the competition is pretty big. You have all the german cars that will soon roll out an electric cars and some already did. Like the VW Golf, Porsche, etc.
Making an electric car is a lot easier than a petrol car. You need fewer parts.
If you know how an electric engine works you know that you only need Neodium magnets and some cooper wiring and you put that in a housing and that’s it. Then add a lot of batteries and a computer to regulate everything and that’s basically it.
I will keep an close eye on how all this will unfold. I wanted to buy the Tesla stock when it was 200$ but every1 on twitter said dont buy it. because the company is making no profit. 2 years later and the stock is up 10x 🙂
Lesson learned: Never listed to random people on youtube and social media 🙂