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Originally Posted by thebmw
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Originally Posted by dreamingat30fps
That being said other than this penny stock gambling I do for fun I pretty much just stick to mutual and index funds. I don't really like having any significant $$ in individual stocks. However Tesla scares the shit out of me because IMO they should change it from TSLA to ELON because it's pretty much driven by the cult of Elon. I think the product is great, I think the guy is a genius (also crazy), but I get the sense there's no rhyme or reason for TSLA to be at the price it is. I personally would put it in the same risk category as these penny stocks.  |
It will be interesting to see how TSLA fares. Overall, it will go up but there may be a serious correction eventually. At least with selected "penny" stocks, they are responding to something concrete, either a rumor, a deal, earnings report, etc. With TSLA, it is a response to a cult and an idea that TSLA will rule the world one day...which may happen along with AMZN! |
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Originally Posted by floridaorange
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Originally Posted by BimmerDimmer6
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Originally Posted by premier3is
Someone help me understand the absolutely ridiculous nonstop uptrend in TSLA.... this was a 350 dollar stock like 2-3 months ago...
Can't even imagine being a short in Tesla. I wonder if it's all purely based on them going to be listed in the S&P500
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Robinhood. |
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Originally Posted by BimmerDimmer6
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Originally Posted by premier3is
Someone help me understand the absolutely ridiculous nonstop uptrend in TSLA.... this was a 350 dollar stock like 2-3 months ago...
Can't even imagine being a short in Tesla. I wonder if it's all purely based on them going to be listed in the S&P500
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Robinhood. |
Which is why I jumped in on Dogecoin - but out now :  |
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Originally Posted by dreamingat30fps
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Originally Posted by thebmw
TSLA is ridiculously overvalued based on fundamentals and even based on the next 5 years' fundamentals. The problem is, the valuation is not based on fundamentals. It is based on the cult. How do you value a cult? And when does that valuation end? At some point, if the cult starts getting nervous, the bubble will burst spectacularly. If more people joint the cult, $2000/share is not far away.
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My friend convinced me to get into TSLA in the 700s. He's definitely drunk the kool aid. This was right before all the covid stuff I believe. Anyways dropped for a while then was stagnant for a couple months. When it jumped into the 900s we dumped it. Kicking myself now! 
That being said other than this penny stock gambling I do for fun I pretty much just stick to mutual and index funds. I don't really like having any significant $$ in individual stocks. However Tesla scares the shit out of me because IMO they should change it from TSLA to ELON because it's pretty much driven by the cult of Elon. I think the product is great, I think the guy is a genius (also crazy), but I get the sense there's no rhyme or reason for TSLA to be at the price it is. I personally would put it in the same risk category as these penny stocks. |
You guys do realize this is the future of the market, right? Is not a car company people are buying, it's something much bigger.
I wouldn't rule out buying in now tbh.