Prominent Tesla Bear Says Shares Could Trade Below $800 in Near-term

[Ogre]

Obviously not a reputable journal just a repeatable one?

After the Rodeo I thought Tesla would go up, but not with the twitter issues lurking and EM standing his ground.

Don’t think Twitter has anything to do with it.

Between the Shanghai shutdown, fed rate hikes, and inflation, the whole macro environment is crap right now. Tesla isn’t the only stock which is beaten up here.

 

[TruckElectric]

Tesla isn’t the only stock which is beaten up here.

Tesla takes the brunt, it's a tech high flier. They get murdered in tech sell-offs.

 

[John K]

Here is a sure fire bet. Alleghany will sell at 848.02 at the end of year*

*if votes pass to confirm sell in fourth quarter.

I wish I knew this information last Friday. ??

 

[TruckElectric]

Supply chain disaster is next........

 

[TruckElectric]

China's CATL enacts 'closed loop management' at factory to fight COVID
Reuters
A representative for the company added that they started the system on Saturday evening, and had made arrangements for key workers, who do not usually stay in dormitories within the factory's premises, to live there during this period.

China's "closed loop management" process is akin to a bubble-like arrangement, which workers sleep, live and work in isolation to prevent virus transmission. A similar system was used at the Winter Olympics in Beijing to seal event personnel off from the public. read more

General Motors' (GM.N) joint venture in Shanghai has maintained production through the city's lockdown by implementing such an arrangement at its factory, Reuters reported late last month.

However, Tesla (TSLA.O) and Volkswagen's (VOWG_p.DE) Shanghai joint venture with SAIC Motor (600104.SS) has had to suspend operations as movement curbs on the city of 25 million have continued.
https://www.reuters.com/world/china...op-management-factory-fight-covid-2022-04-11/


CATL Plunges Amid China Stock Market Rout as Battery Giant Takes Steps to Avoid Covid Shutdown
https://www.yicaiglobal.com/news/ca...utput-is-affected-by-latest-covid-19-outbreak

 

[TruckElectric]

Supply chain disaster is next........

Tesla Rival Nio Suffers a Major Blow
Shanghai-based electric vehicle manufacturer shuts its manufacturing plant over supplier disruptions.
https://www.thestreet.com/investing/tesla-rival-nio-suffers-a-major-blow

 

[Crissa]

800 isn't a bad guess at a base line, tho, stock can swing pretty wildly.

A shut-in does no good if people go hungry.

-Crissa

 

[TruckElectric]

Supply chain disaster is next........

China’s Li Issues Third Growth Warning as Covid Takes Toll

• Premier says ‘sense of urgency’ needed on implementing policy
• Nomura says there’s rising risk of recession amid lockdowns

“Global markets may still underestimate the impact because much attention remains focused on the Russian-Ukraine conflict and U.S. Federal Reserve rate hikes,” Lu Ting, Nomura’s chief China economist, and colleagues wrote in a Monday note.

The lockdowns will have ripple effects on growth across the region and are putting global supply chains under strain. Congestion at China’s ports have worsened after Shanghai, where the country’s biggest port is located, imposed a city-wide shutdown. Ship-owners have been desperately trying to divert ships to other ports in the country to avoid a shortage of trucks and warehouse closures in Shanghai.


There are already signs that restrictions last month weighed on the world’s second-largest economy. A private survey of factory activity in March fell to its worst level since the onset of the pandemic two years ago, and other data has shown a massive knock to the services sector, too.
https://www.bloomberg.com/news/arti...s-third-warning-on-growth-as-covid-takes-toll

 

[Foxx]

Fine with me if it drops to $700 again…. I l will just buy 50 more shares and watch my money double later in the year.

 

[ÆCIII]

Awesome if it happens. Look at how long TSLA was in the $40 range before it ultimately had no choice but to 20X or more. Great buying opportunity in my opinion which of course is not financial advice.

 

[jerhenderson]

That seems wildly bullish for Gordon "Genius" Johnson.

'Prominent ' ..... bahahaha... what is his rating? 3999 out of 4000 ?

 

[TruckElectric]

Shanghai Factory Closures Mount as Covid-19 Lockdowns Hit Supply Chains
Pegatron, the second-largest assembler of iPhones, suspends work at two plants

https://www.wsj.com/articles/apple-...ion-at-shanghai-jiangsu-factories-11649755451

 

[Qball]

Supply chain disaster is next........

Actually from the numbers Tesla crashed from 1180 down to 700 which is about a 40% drop vs most of the tech stock that are down 70-80% and only recovered somewhat compared to Tesla’s almost full recovery just days ago. so it’s no where near as bad as other growth/tech stock.

If it drops to 700 again I’ll be buy a few more share as I can afford it. I have a feeling the stock will get a healthy bump on 420. It already is back above 1000 today. Guess I some ways Tesla is now a tech value stock hybrid, although not quite at amazon/google stability but also has crap ton more growth to go.

 

[Cybertruckee]

Does that mean that this Tesla bear still have money to lose?

 

[TruckElectric]

Chinese Stockpile Food as Covid-19 Concerns Ripple Out From Shanghai
Residents across China bracing for the prospect of Shanghai-like lockdowns raid supermarket shelves as Omicron cases spread
https://www.wsj.com/articles/chines...concerns-ripple-out-from-shanghai-11649771421