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Welp, there goes 1018 support. Guess we will have rip off the bandaid, fill the breakout gap and bounce from there.
Consolidated Last Sale | $1,003.95 -19.55 (-1.91%) |
---|---|
Pre-Market Volume | 619,313 |
Pre-Market High | $1,047.51 (04:01:18 AM) |
Pre-Market Low | $1,000.5 (07:34:25 AM) |
Macro sucks yes. But we saw some large 15 dollar movements. It went from 1029 to 1015 in one trade.It's not just TSLA going down in the pre-market though, I see a lot of other stocks dropping before the open too.
I thought about it too, but this year it seems a lot of IPOs fall flat on their first day. Maybe those were earlier this year when SPACs were all the rage. I plan to watch Rivian and set up a small stake after the dust settles.Not TSLA, but tried to get in on the Rivian IPO but it was too late. If I had known what I know now a couple weeks ago, I would have probably just plopped a refundable $1k reservation for a R1S, as reservation holders were allowed to buy up to 175 shares at the IPO price ($78).
Are you thinking 980$? Or lower?Welp, there goes 1018 support. Guess we will have rip off the bandaid, fill the breakout gap and bounce from there.
For most stocks IPOs are worst time to buyI thought about it too, but this year it seems a lot of IPOs fall flat on their first day. Maybe those were earlier this year when SPACs were all the rage. I plan to watch Rivian and set up a small stake after the dust settles.
Probably bounce off 20 ema. I am expecting Tsla to close above 1k for the week tho so all this is just drama for the baby mama.Are you thinking 980$? Or lower?
I found more money (it’s payday ) to go shopping (again) today.
Last few IPO's I've tracked (BIRD, HOOD) there was a huge run-up out the gate, then the SP fell back. HOOD is now below its IPO price, and BIRD, after increasing over 100% on its first day of trading, is down significantly (but still 35% over IPO). I think there's definitely an opportunity to make a quick buck with Rivian today for those that got in on IPO price, but I think it'll be a decent long-term stock as long as the company hits its benchmarks.I thought about it too, but this year it seems a lot of IPOs fall flat on their first day. Maybe those were earlier this year when SPACs were all the rage. I plan to watch Rivian and set up a small stake after the dust settles.
I agree the closing of the calls is an excellent explanation for the huge drop. This is backed up by the fact the SP did not start that drop in the pre-market until the options market opened at 9:30 yesterday.Because the catalyst for all the call buying that led to the gamma squeeze was the knowledge that underweight funds would be buying. Once there was a real or anticipated supply of shares (no different than a cap raise) to quench the demand, leveraged players know the party is over. Call options are rapidly closed out, leading to sale of the underlying shares. This may have been synergistic with Elon’s actual selling but it is also possible he hasn’t sold yet.
A quick reminder for anyone who is suffering from the short term noise:
We have entered the disruption zone:
4680 cells with Maxwell dry-electrode is on the verge of flooding the entire BEV market!
I personally believe that Tesla will reach a 2$T market cap this year!
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Because the catalyst for all the call buying that led to the gamma squeeze was the knowledge that underweight funds would be buying. Once there was a real or anticipated supply of shares (no different than a cap raise) to quench the demand, leveraged players know the party is over. Call options are rapidly closed out, leading to sale of the underlying shares. This may have been synergistic with Elon’s actual selling but it is also possible he hasn’t sold yet.
Everyone's wondering when Elon will sell his shares (or has he already started selling?). Once people know he's done selling (or not selling), the stock should recover. Well, until he tweets the next dumb thing.We've been seeing upgrades for a while now, so everyone knows the true value is higher than current SP.
When turns around, I think it will have significant movement. Hopefully this week or maybe today.
Agree! Just a crazy roller coaster ride.Probably bounce off 20 ema. I am expecting Tsla to close above 1k for the week tho so all this is just drama for the baby mama.
We've been seeing upgrades for a while now, so everyone knows the true value is higher than current SP.