Chanos on CNBC - he basically just called Tesla a fraud. They should really have a bull on when Chanos is on to challenge him. In my view, shows the bias of CNBC.
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Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable
- Thread starter AudubonB
- Start date
I've never seen a promotional rate for cash advances on credit cards. The APR tends to be right at 25%. They are an absolute last resort.
Also, there is risk there in that card issuers can close your accounts and demand repayment if they think you are a bust out risk.
In the grand scheme of things, this P/D report and the trading action around it doesn't mean anything. But I still get super annoyed at blatant manipulation. It's obvious that Tesla stopped trading "normally" around the mid 500's and I'd wager a guess that's when new shorts moved in, anticipating fear going into this P/D report. They then apply selling pressure as much as they can before the actual numbers come out so that if the numbers come out and they're positive.....they don't actually lose any that much or at least give themselves a buffer to get out of their position without taking a loss.
Tesla stock would need to rebound about 14% just to get back to where it was before it broke from macro's trading a week ago.
Tesla stock would need to rebound about 14% just to get back to where it was before it broke from macro's trading a week ago.
Chanos on CNBC on TSLA right now. "Still max short. One of my favorite positions" "It's a car company, they will lose money again this year and next year" "Building more capacity at the wrong time"
They apparently have to cover at 5% but then will short again if they still like the move.
He keeps saying "It's a car company". It's amazing how much he doesn't understand about the company. Even the host is pushing back on him a bit.
They apparently have to cover at 5% but then will short again if they still like the move.
He keeps saying "It's a car company". It's amazing how much he doesn't understand about the company. Even the host is pushing back on him a bit.
The Tesla shorts have got to be the luckiest bunch of people on WS in the last 6 weeks. IF not for this pandemic, Tesla would be at ATH's and the Model Y would be the talk of the internet and many of the shorts would be broke.
TheTalkingMule
Distributed Energy Enthusiast
You realize these guys were short at $250 as well, right? If Chanos is truly deep in a short position right now he's insane.
StealthP3D
Well-Known Member
My comments were addressing investors who aren't billionaires (or $50 million millionaires). Investors with investable capital. It doesn't matter if it's $10,000 or $10 million. I'm ignoring those who don't have enough money to invest in individual stocks because they are simply not relevant to the topic.
Krugerrand
Meow
It’s a fact. It’s been a fact since the beginning of the Internet. Indeed, it’s a fact since the beginning of time.
Humans are animals. A portion of our species continually fight our animal instincts. We don’t all succeed and certainly not all the time. We ostracize. We war. We say rude things. We say things others think are rude but we don’t.
If you were familiar with the ‘rude’ poster, you’d know that they posted no differently than they have in the past. I’ve no idea if it’s real rudeness or limited creative writing or just being a blunt German. (German ancestry here and married to one, so relax).
So yeah, when you give people the ability to be anonymous, they sometimes draw outside the lines in a way they wouldn’t face to face or if people knew who they were.
FYI, I’m exactly the same in RL. Unfortunately?
StealthP3D
Well-Known Member
My accountant said solar and EV tax credits cannot be rolled forward. But we have at least one member here that says solar credits can be rolled forward. Is your experience with EV or solar credits? Or both?
Very restrained language. Good job!
True @Nocturnal -but your reply was to @StealthP3D writing about my post where I said-
"a poorer blue collar worker with the reasonable sense to save up"
- and that key point totally rules out EVER "taking cash advances against all of my CCs" for ANYTHING.
My accountant said 2018 solar tax credits COULD be rolled over to the next year.
But unused tax credits = a good time to convert traditional IRA funds to Roth IRA funds, no??
New guys to investing - I think Roth IRA's rock. If you have an IRA and don't know what I'm talking about, then you probably need to learn about it. I had no clue about ANY of this 2 years ago. It's proven to be a lifesaver as call options increased in January.
Topic relevant because it saves taxes to invest in more TSLA.
Disclaimer- not advice, I might be all wrong about this.
Not sure if this answers your question but look at the instructions for form 5695 https://www.irs.gov/pub/irs-pdf/i5695.pdf
Line 16 says
"If you can't use all of the credit because of the tax liability limit (that is, line 14 is less than line 13), you can carry the unused portion of the credit to 2020."
Lines 12 & 16 on the form itself also talk about carryforwards.
This is specific to Solar not EV
TheTalkingMule
Distributed Energy Enthusiast
Pretty much zero movement in the 20 minutes after a Chanos "fraud" diatribe on CNBC....in the middle of a pandemic....sitting around the 52wk average......with 1Q deliveries about to be announced.
Oh how far we've come!
Oh how far we've come!
TheTalkingMule
Distributed Energy Enthusiast
I'm fairly certain you can now split it up over five years in any way you see fit.
Yes indeed. Especially if I'm correct on the 5 years above. A retiree can take their time and do conversions at advantageous moments while using the tax credit as needed.
Tesla is as much of a car company as Apple is a handset manufacturing business.
Tesla actually did move while he was talking about Tesla. Granted, not as much as it might have in the past.
However, not sure how CNBC gives Chanos credibility when the reason he is winning now has nothing to do with his analysis but rather to do with luck. Seems really silly - It is just really bad reporting that CNBC did not make that point to him. Chanos calling “fraud” on Tesla with no proof, when he is a known short seller in the security, should be a crime.
Yes, having a traditional and a Roth IRA is great for situations like that. If you don’t have a traditional IRA, you could also sell and rebuy TSLA shares at a profit. Increase your taxable income now to take advantage of the tax credit and reset your cost basis so your taxable gains are lower later.
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