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⧖ @christineburns@mastodon.greenY'know I'm no investment wizard but I can't help suspecting someone is making a helluva lot of profit this week if they bailed on Tesla stock before the big fall and bought back in at the low point, which was reached mere days ago. As data continues to show plummeting sales of the cars themselves, the big investors in the overvalued company seem to be defying gravity to drive the price back up. A reminder that stock markets are gambling dens based on 'feels' and chicanery, not real value.
@christineburns It's bitcoin all over again.
@christineburns Not sure how much value the image of the graph is adding, seeing as at least two of the axes are unlabelled.
@rvedotrc @christineburns (it’s price in dollars on the y axis, and day of the month on the x axis)
@christineburns Apparently Wall Street “scents blood in the water” according to Anthony Scaramucci on The Rest is Politics US.
@LisaDiFalco1 Somehow 'blood in the urine' might be a better analogy.
@christineburns Live by the shark, die by the shark.
@christineburns The stock market is largely based on vibes.
@christineburns Canada has cancelled all its rebates for Tesla purchases. There’s something very off, as one dealership claimed to have had 2,000 [!] sales in a single weekend in February, and three others were high but not that high.
@christineburns I always assume the stock market is identical to the trade market of Pokemon cards. The value assigned to everything on the market is purely subjective and deeply rooted in fantasy, and defies any connection to reality.
@christineburns
I continue to wonder *who* exactly is buying TSLA. Is this artificial price support by people who can afford to?
@KimSJ I'm not sure. Normal speculation would occur when people judge the stock has gone as low as it ought and that would push the price up. But, at some time, reality has got to bite. I see the other tech stocks have been rebounding too -- Apple, Amazon, etc..
@christineburns
The non-conspiracy theory would be that the markets still believe Musk’s bullshit about the imminent release of robo-taxis. I suppose that’s just about possible, if people refuse to learn from Musk’s history.
@KimSJ It had not escaped my notice that a number of vapourware stories had 'leaked' out about the taxi, new battery tech, etc.. But I'm not sure people are falling for that schtick in the same numbers they used to.
@christineburns @KimSJ a lot of nonsensical valuations by investment companies trying to get "retail" investors to buy and pump the price up so they can get out, as well, I think. Yesterday's was a particularly comical one https://finance.yahoo.com/news/cathie-wood-sticks-tesla-predicts-012052379.html
@Flisty @christineburns
Idiocy, or just plain lies? Hard to tell.
@christineburns
Tesla is being heavily shorted.