Truly TurleySo nobody's talking about Tesla stock price anymore... but it looks like the TESLA short sellers were right.
Elon needs to delete his twitter, or he's going to get fired.
Both the short sellers and now the Tesla investors hate him.
Anarcho-Felinist@turley It's kind of surreal since it's a contradiction of what the market's actually doing, rather than the stock market. Musk's businesses will continue doing whatever it is they do.
A similar story can be seen in Nike right now; their stock plummeted from the ad but their sales are doing great. They're seeing twice as much growth as a similar period last year, despite what the stock market predicted.
@Luarien that is the funny thing... just because people love the product, doesn't make the company a success on the stock market... though it helps.
They need to make some money, and Elon needs to keep quiet for a little while.
When the short sellers complained to SEC, I thought he'll be fine, but if some of the people who bought stock expecting it to go to $420 complain, it'll be a whole different story.
Thanks for reminding me about Nike... very different chart; can't see the 'plummet' tho
@turley Well it's a plummet for an established stock. It's not Blue Chip because there's no real Blue Chip stocks now, but there's a definite massive dip for a legacy corp like that after the ad campaign. It would've happened last weekend (not yesterday) and the correction would only have happened after Tuesday from what I've read.
@Luarien previous was a 1 yr chart. On that basis I wish I'd been long Nike all year... DOH!
Here's a 3 month.
The was a big swing early last week intra-day, but doesn't look unreasonable compared to rest of the year.
Adidas was down those days too, which doesn't make a lot of sense.
Anyway, I think I need to trade Nike now... volatility is high!
@turley Well, Nike is shifting all their advertising to urban centers, which is probably what's helping them.
IOW, they're marketing to the petty bourgeoisie. The exact market that has the freedom to buy shoes but still be invested in political freedoms.
@Luarien that's all very high brow for me.
I'm just a petty #capitalistpig .
The stock markets are random, therefore I'm selling both call and put options on #NKE ... for equality's sake ... and because it nets more money
@turley They're not that random, though.
There's a stark difference between Investor Culture and Populist Culture that can easily be seen.
Especially because in all public digital spaces, the MAGA apologists are despised.
@Luarien
Markets are supposed to be random... depending on your free market belief system.
I find they suspiciously do the opposite to what I want them to do more frequently than they should.
@turley Nothing is random. Especially human behaviour; even if we can't prove the universe is deterministic, we can absolutely prove that human behaviour is. Every market has biases, and every market has patterns.
If it was random, how could there be wisdom, insight, or even skill to investing? Ever?
@Luarien for most "investors",
I don't believe there's wisdom, insight or skill to investing.
To be successful it's down to reducing cost basis, incorporating probability based mechanics and not following the herd.
@turley That's all still bias.
For one point, a large group of buyers can be right. There's all kinds of data there, especially with military purchases.
You'll always have biases toward one truth or another and *if* it is regularly verified then the system you're looking at isn't random.
The stock market isn't random because even you have a system to exploit it. A system you believe will "beat the average".
@Luarien I just like gambling 😂
@turley
And yet any graduate level economist can show how the market is deterministic.
And yet any graduate level economist can show how the market is deterministic.
@Luarien they may be, but it doesn't work in reality.
The stock market isn't deterministic.
Otherwise all those kids would all be rich and the market place would be stagnant.
There are too many random and unknown parameters.
The market's reaction to any given news or economic data can't be known before it's enacted by the market participants.