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Analyst consensus was 28,000 -- reality was 28,578. So "somewhat better than analyst consensus" is accurate.Uhm ... wait a second ...
I think this is what Elon meant when he said don't buy the stock if you don't like volatility!
CF who? They think 5k is unsustainable, just like 2k was unsustainable...
But not sure that's what he meant when he says short burn of the century
Official report says "produced" in the very 1st sentence, so this whole "factory gated" drama is pure nonsense.
Tesla releases official production numbers: 53,339 vehicles including 28,578 Model 3’s in Q2, 6,000 per week next month
But not sure that's what he meant when he says short burn of the century
Given the insane-high IV, if I am in a position to buy more stock this week, I'm planning to sell deep OTM puts (maybe $550? $600?) in order to acquire stock while harvesting IV and time value. (The danger: the stock actually skyrockets past the price and I end up with the cash rather than the stock.) I don't think I have the margin capacity to do it comfortably though, so I'll have to calculate.Can't wait to buy some July 20 360 calls when IV settles
While his overall thesis is nonsense, I find it plausible that 5K cars “factory gated” does indeed mean Model 3s produced from raw materials for the week AND 3s that had largely been produced prior to last week, but received some final work to put them in ready to ship status by the end of last week. If this is the case, for the big picture it means nothing, but re the very short-term “market action,” this (and some accompanying efforts to attempt to paint Elon as slippery/untrustworthy) might get some traction as something of a brief downward vector on the share price among some strong upward vectors this week. Doesn’t change the reality that current ongoing events are core good old days in Tesla’s emergence : ).
Chinese GF announcement as per Annual Shareholder Meeting is probably the match that will light everything up.
For me, today's price action is a crystal clear indication that the other side is a well-organized force rather than a bunch of clueless individual shorts that honestly believe a short thesis and bet money on it. And while they have enough power to manipulate the stock they will continue to do so while some of us will keep trying to find logic in the short term price action.
P.S. That's why I stopped playing short-term TSLA long time ago
It almost makes sense to question demand the way you are questioning, but where is your imagination? You must think worst case scenario (for you) when shorting, no? So how about all the demand levers Tesla still can pull?Well, now it is getting more interesting. As those of you who have suffered through my posts before (and I do appreciate it) know, I am one of the shorts who has been rooting for Tesla to hit the 5k number as we believe it will bring the demand & profitability issues into sharper focus. I had expected a little gap before attention switched, but fortunately the negative net reservation number (a first, I think, for Tesla?) has highlighted the problem. It is OK when the number of people buying your product is about the same as the number of people ordering (net of cancellations) your products, as in Q1. It is not so good when the number of people cancelling substantially exceeds those ordering (as in Q2).
Given the insane-high IV, if I am in a position to buy more stock this week, I'm planning to sell deep OTM puts (maybe $550? $600?) in order to acquire stock while harvesting IV and time value. (The danger: the stock actually skyrockets past the price and I end up with the cash rather than the stock.) I don't think I have the margin capacity to do it comfortably though, so I'll have to calculate.