We’ve been patient for Tesla’s stock to start turning up. It may be happening. We called out a 280 support. It appears to have held.
Today was also nice. You had “bad news”. Oh, no Lucid and oh no they have to deliver way too many cars and Musk is whining about it. It’s such a terrible calamity, of course, to have to deliver so many cars, right? Not really.
Ford and GM wish they could be crying on Twitter that they have to deliver way too many cars. Oh no, right?
And in the face of all that “bad news”, the stock opened down and managed to crawl its way back to up all day. That’s also in the face of a market that got nailed into the close.
So you had bad news today and the stock worked its way up all day to flat in a down tape. That’s great action.
Tesla gets our official Turnip award for starting to turn up. Production, delivery and earnings reports around the corner with no-go-private news apparently behind us. Turn-up.
Quick quiz:
Having way too many cars to deliver is:
A) Terrible because as a reporter you have to put a negative spin on everything.
B) A big problem because you’ll probably make too much money which will cause pay-down debt hell.
C) A sign of lack of demand for Tesla which means they must be going bankrupt very soon.
D) Really a very nice thing that most car companies could only dream of.
Answer in comments.
