Somebody's got to say it... My apologies, y'all!A short rally but will the Dark Forces prevail?
Somebody's got to say it... My apologies, y'all!
The demand for TSLA stock has nothing to do with TSLA's future profits, and everything to do with Tesla fandom.
As a result, predicting TSLA's future stock price is a Hard Problem.
Looking at Tesla as a business, my target for TSLA is around $85/share. This would give TSLA roughly the same market cap as GM. Considering that Tesla sells about as many cars as Mazda, this target prices includes an awful lot of optimism about their future growth and solar+storage businesses. This target price is also a small fraction of the current TSLA stock price.
The previous post shows that the current price shift has nothing to do with Tesla or its fanboys specifically. Money is flowing out of the tech market that flowed in last year and is going elsewhere.Again, my apologies, but someone has got to say it.
Today it bounced at 550ish. I agree that if it breaches 539 it could continue falling. My hope is for this multi-month down trend to reverse itself before that happens...which will depend on some GOOD news coming out. (Possible good news being a less-than spectacular F150 reveal tonight.)A short rally but will the Dark Forces prevail?