Well, Elon’s long-term desire to have his car models spell out a saucy acronym has at last been realized.
Liquidity moves markets!Follow the money. Find the profits!
The thing is, the market really doesn’t care about making 8th grade boys laugh. They care about profits. And in a world in which every piece-of-crap stock is going up, poor Tesla is actually down 30% from its own highs, grinding endlessly lower, even while launching new products.
Looking at the long-term chart, the key level of support for TSLA is at 244.59. Break this, and it’s just going to enter a new phase of its own private bear market.
Wall Street Examiner Disclosure:Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. I may receive promotional consideration on a contingent basis, when paid subscriptions result. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. No endorsement of third party content is either expressed or implied by posting the content. Do your own due diligence when considering the offerings of information providers.