No, TSLA will be down another 10% Monday, because on Monday the Paid Media will state that trimming work force during a recession is prudent and wise and the right thing to do, and Tesla is no longer doing this. The Paid Media already spinning this latest tweet as a negative, stories of Elon backtracking. No he is not. Cutting 10% of Salaried work force now. One year from now Salaried work force to be +/- to what it is today. Hourly manufacturing and installation work force will continue to expand for the forseeable future.
It does not matter what Elon says, or what is provided from a large Tesla PR department if they had one. The result is exactly the same. The Paid Media will spin it whatever way they are paid to do so. They can't even quote a ten word tweet and only quote two words out of it to frame their narrative. Sad.
People (The masses out there). Wake up! Go to the source of the information for your informaiton. Do not rely on Paid Media. If you are not paying for the product, you are the product.
I get your point, but I’m going to venture a bit further out on the limb. The pattern I think I’ve been seeing, is that positive news can drive an upswing, but MMs can fight it if the volume is low. Negative news gets amplified, and then any macro trends have a pile-on effect. That nice limb might get sawed off by Monday morning.
On a somewhat related note, I got an email from my sister referring me to a NYT OpEd entitled, “When Elon Musk Dreams, His Employees Have Nightmares.” I had seen the headline as I have a digital subscription to it, but didn’t waste my time reading it, nor did I when she cited it. My sister was sort of poking me. She and her husband are Porsche fans. I sent her back the following note:
‘Thanks. Yes I saw this article. He was pilloried in the press after he first said all workers needed to work 40 hrs in the office, and then said he was reducing staff by 10%. He later clarified that to be just office workers, and that they are increasing factory and service workers. It caused the stock to drop a good bit.
Here’s the thing, he is pushing the envelope. For those who want to work at a place where there is constant innovation, challenge, and empowerment to achieve - Tesla is it. And more do than don’t want to be there. It isn’t-a great place for softer skills most likely. And it’s probably not a place you’d spend a career at.
As an investor, I’ve learned to filter the things he says and does through a net that drops out impacts to core business. I’ll admit it is sometimes difficult. But so far when I do this, what I see is a company that is growing dramatically, by constantly innovating and adapting to near-term, medium-term, and long-term constraints, as it maniacally focuses on achieving its objectives. They are not for faint of heart. I periodically check in with people whose financial knowledge and wisdom I respect just to make sure I’ve not got rose colored glasses on. And I read an investors’ forum daily. Staying the course.’
Of course the investors’ forum I referred to is TMC/this thread.
Hopefully one day in the not too distant future she will be wistful that she didn’t buy-in when she had the chance..