Hey all. I have a bit of a predicament and would very much appreciate the Borg hive mind feedback.
In short: When Tesla launched past $1,000 a share I sold 50 shares and put a deposit down on the Roadster. Now, I'm contemplating canceling the deposit so I can reinvest that $50k for, who knows, maybe 100 shares at some point.
In long: I've been trading and then investing in Tesla since 2018. I had 40 shares, sold prior to the C19 dip, bought back 80 near the low, added 20, split happened and boom I'm at 500 shares. Since then I've sold 200 shares at an average of $1000 or so. Roadster deposit, home/Tesla upgrades, put back initial capital, and a little deworsification into other stocks..very small amount and that $200k is locked up/used. I'm giving up the details only because I think it matters in finding the right decision. My brokerage account is out of cash and I'm not willing to sell CCs at these levels. I'm seriously considering getting the $50k Roadster deposit back but I'm not sure if that's a good idea as there are several unknowns. The main reason I put the deposit down was in hopes of locking in the "$200k base price" cost of the car. About a month after I put the deposit down they removed that wording from the order page which made me feel better and more certain about my decision. The reality is 1, Who knows if they will honor that base price as they don't have to contractually. However I can't fathom they'll do wrong by people who dropped $50k for many years now. 2. If they do the likely thing and raise the price, what will it be, $250k? $300k? 3, Who knows when this car will even come out. Cybertruck is probably a year away still so, what, another two years for the Roadster maybe? At this point it's a non-zero that Elon simply cancels it on a whim one day because "the future is FSD". Other things to consider are I'm not sure how long it takes to get the $50k back. Someone in another thread said it took about a month. What if I miss the ~bottom and things turn around and I never really put the cash to work. Alternatively, it's very unlikely but what if I purchase in the $500s and the thing hits $300s and trades there for many years. I don't think that's going to happen but, honestly, it's not impossible. Part of me is like just sit back and relax, having 400 shares instead of 300 shares isn't a game changer, you're way ahead of the game on profits and you've got a deposit on essentially the only material thing you covet. Do nothing and enjoy the days. The other part of me is thinking those $50k worth of shares could be worth buying the whole Roadster when it comes out. Also, it's possible I might not go for it anyway if the stock is in the tank as my intention was to pay for it writing covered calls or selling a share here and there.
Additional info, my intention would be to sell ~$500 puts with the $50k and sell closer to ATM when and if it really gets down there. Also, while I don't make a ton of income personally, my family is extraordinarily comfortable financially. My kid will never want for anything so TSLA isn't really about building generational wealth of anything like that.
You're all smarter than me, what are your thoughts? I spoke with my wife about this tonight and she too remained undecided.
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