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Saudi Aramco Plans To Take Its Trading Arm Public

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Is Tesla Oversold?

Two months ago, in these very pages, I wrote that I had abandoned my long-term holdings in Tesla (TSLA) and viewed it once again as a trading instrument rather than an investment. That, I said, was because I expected to see two-way volatility in the coming months. Here is the chart for the stock since that piece was published…

I guess I was right but, as is usually the case, that was down in part to an analysis that turned out to be accurate, but mostly to a big chunk of luck. I couldn’t have known back then that Elon Musk would tweet out another of his 4/20 themed tongue in cheek statements, but this time feel obliged to follow through with it. Musk’s decision to actually buy Twitter (TWTR) is not the sole reason for the stock’s big drop to here, obviously, but it didn’t help.

Apart from anything else, he will have alienated even some of the most hardcore Teslarati by making that decision then letting it be known that he would reinstate Donald Trump to the platform as he did so. The people that bought Tesla as the poster child for the environment and the move away from the evils of fossil fuels are unlikely to be Trump supporters but are probably obsessed with the former President all the same. They may still like the idea of EVs, but not of investing their money in support of someone who let him back on Twitter. The desire to make an anti-Trump statement will outweigh their love of the environment, or even any sound reasoning…

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EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
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