I don't really blame Elon for all this. After all, it's his right to buy what he wants and sell TSLA shares when he wants and however many he wants to sell. But dear god did he pick the absolute worst timing to do it. He added selling pressure at a time when Giga Shanghai was shutdown and now is only production half of what it normally does and macro markets were clearly delicate and in limbo with volatility. It has given Wall St the most ammo to drop TSLA since early 2019. Hence why I think 500/600's are coming.
I do wish Elon would wrap this Twitter drama up and show some support for the stock. If TSLA does get dropped into the 500/600's, a lot of retail TSLA investors will be wiped out to a certain degree.
I know some here can use the mantra of "Don't gamble with money you can't afford to lose" but I also don't feel that a investor should have to expect the CEO of the company they're invested in to add tons of selling pressure and volatility, with some of the selling pressure coming from the CEO himself. I don't think it's necessarily good karma to have a retail investor be forced to sell from fear of their CEO. I'm not talking margin calls, I'm talking bout life happening. Sometimes life events happen which mean you have to cut your investment horizon shorter because you simply can't risk holding with Elon
I'm lucky that I'm not one of those people, I have plenty of time and flexibility that measure in the next 5-10 year minimum (nor would I be at a risk of margin call even in the 300's) Some investors don't have that luxury or they did, but their 5-10 year windows was 5-10 years ago.....which means they need to money now.
Hence why I made the post earlier this morning that everyone should be prepared for a drop into the 500's.