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It might be blue sky from here to Q3 ER.
Volume doesn't seem to be that high for this much of a drop, I wouldn't call this a sell-off today. Maybe I'm wrong?
This is the first time I've thought of adding to my position since $45...
At $45 Tesla traded at an Enterprise Value of 2x 2013 Revenues.
If a ramp to 60K cars/year is achieved in 2014. Then at $18B EV, Tesla is trading at 3x 2014 Revenues. For comparison the established auto-makers, Toyota, Ford, etc have an Enterprise value of 1x revenues. I don't think we'll see 1x revenues valuation for at least 20 years. And probably not even 2x revenues for ten years.
Today it feels like the perfect storm. I feel like those analysts were just waiting for a day in which the market went down 1% to drop a bomb and kill the stock. The have been wrong since the stock was at 45$ and have been probably taking massive flak for that price target. At this point all they can do is stick to it and hope they will eventually be right.
Right now we are in a sort of inverse short squeeze. Going up a lot of bulls went all in with TSLA pushed by the seemingly unending growth. Once the correction came because of external factors (debt ceiling + fire) all those longs started losing money....and eventually closing positions as things went bad. A lot of individual short term investors are paying dearly right now and nobody wants to touch the stock until things settle down. No buyers + desperate sellers = CRASH.
The good news is.... I think the Morgan Stanley note is very telling. Institutional investors have been waiting for something like this to happen for a long time and might be stepping in now to buy.
Back at $163.5. It does feel much better than last time it was, which is what, 15 minutes ago?
Hope I don't breathe a sigh of relief too soon. A lot of emotions is mixed here so it will remain volatile.
I just think it is pretty cheap shoot for ML and BA to throw price target of $45 today. They are irrelevant and will remain so. Can't imagine how their clients looking at them. Dare to short this $163 stock all the way to $45? A lot of profit potential! Brilliant call! Or wait till $45 to get in? This is comical. How these analysts expect investors to act on their report????
Back at $163.5. It does feel much better than last time it was, which is what, 15 minutes ago?
Hope I don't breathe a sigh of relief too soon. A lot of emotions is mixed here so it will remain volatile.
I just think it is pretty cheap shoot for ML and BA to throw price target of $45 today. They are irrelevant and will remain so. Can't imagine how their clients looking at them. Dare to short this $163 stock all the way to $45? A lot of profit potential! Brilliant call! Or wait till $45 to get in? This is comical. How these analysts expect investors to act on their report????
If it makes you feel better, we just fell back to 162.50. :tongue:
I also think that Elon showed a chink in his armor with this Germany reveal, which is turning out to be a PR fiasco. He should not have announced what he did there regarding market focus. He got a little cocky, and forgot his comments have material affect on the stock in any public setting. That's a goof I'm sure his PR team is reprimanding him for right now. I would be if I was on his staff.
I'm not sure exactly what he's referring to, but I definitely had a (nationalistic?) reaction to some of what Elon said in Munich. More specifically, "we're investing a lot of time and effort in Germany" (which might suggest we're not doing so in the U.S. which still has lots of SC to get done, etc.).Can you elaborate on this? What exactly did he say that was bad for TSLA? I haven't listened to the entire video yet...
Huh? Germany is an important market. It'd be stupid not to acknowledge that. It'd be like not acknowledging the US market or the China market.I also think that Elon showed a chink in his armor with this Germany reveal, which is turning out to be a PR fiasco. He should not have announced what he did there regarding market focus. He got a little cocky, and forgot his comments have material affect on the stock in any public setting. That's a goof I'm sure his PR team is reprimanding him for right now. I would be if I was on his staff.