No, the algos are far from perfect but even they are not that stupid! Only plausible explanation is the down-trodden shorts got excited by this incredible news they believed was a once-in-a-lifetime opportunity and piled on with whatever they had left.
Keep in mind the wash sale loss gets added to the cost basis of the new position. So you don’t actually lose that tax loss deduction in a wash sale, it just gets postponed until you sell the newly purchased lot.
If I did, I would not be posting to this group. (That's a promise, so donations to get me there are always welcome.)
Cramer said she should put a bottom on Tesla. Apparently she has done this before for other stocks being messed with. He mentioned a few saying “she has done this before.”
Also worth mentioning is it (the loss) gets proportionally distributed between everything you buy in that +/- 30 day window.
I know it's heresy to question Cathie, but with that volume, it would be easy to paint the tape, wouldn't it? Not that it matters to me, I'm long on TSLA and several ARK ETFs and I've got diamond hands. LOL.
I’m guessing Ron bought back in as well Edit: both Ron and Cathy sell frequently to capitalize on volatility as well as make sure the fund is balanced.
And although down in price, well up from the day's sharp V-shaped bottom. The price action and trading volume suggests a washout of weak longs and investors on margin. Perhaps a setup for bargain hunters next week.
That and don't ever forget that the alcoholic queen Nancy Pelosi has those $550 (iirc) calls for Jan 2022. She's gonna make sure those pay off for her. HODL your LEAPS fam we'll be out of the woods soon enough.
I registered and am looking forward to Engage Tesla becoming useful source of information from the company. A couple of minor problems with my registration: They did not like the name of my YouTube channel: Curt Renz. Perhaps they didn't realize that a YouTube channel could have a two-word name. They asked for an address so a US representative would know that a commenter resided in his/her district. My US representative and state legislators require a 9-digit zip code to be certain. Yet Tesla Engage would only allow a 5-digit zip code. Has anyone else had similar difficulties?