Tesla shares stumble in wake of big Bitcoin drop

Hanno Labuschagne

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Tesla shares stumble in wake of big Bitcoin drop

Tesla Inc. shares wiped out their year-to-date gains Tuesday and briefly traded below the level where they were when the electric-carmaker entered the S&P 500 Index in December.

The stock dropped as much as 13% to $619 in New York, its biggest intraday decline since Sept. 8, before paring much of the loss to close down 2.2%. The stock was down 31% from its Jan. 25 record intraday high at its lowest point on Tuesday.

Tesla’s early-week decline amid a wider market selloff was fueled in part by Chief Executive Officer Elon Musk’s comments over the weekend that the prices of Bitcoin and smaller rival Ether “do seem high.”

[Bloomberg]
 

Rabobi

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Lmao

Really now, much surprise.

Musk opens his pie hole and the world loses its sht
 

Hamster

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Company share price rises for no real fundamental reason other than the CEO smoking pot live on air.

Company invests $1.5 billion in crypto currency.

CEO says "yeah, probably paid too much for it"

He's an anarchist :ROFL:
 

Rabobi

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Company share price rises for no real fundamental reason.
Company invests $1.5 billion in crypto currency
CEO says "yeah, probably paid too much for it"

He's an anarchist :ROFL:
He is trolling all the btc whales, probably laughing his arse off
 

cyb3rt

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Stupid article. The SPX was down (not 20+% like BTC but that's relative), and have you looked at the macro Tesla chart recently, lets say the weekly. Any ape could have told you it would have a substantial dump at some stage soon. From $400 to $900 was basically a straight green line, well before they bought into Bitcoin
 

_TrXtR_

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Think musk just proved that he can control the shares of tesla through bitcoin.
so next time he says bitcoin up, maybe his friends buy some shares with tesla befiore the rise.
 

TelkomUseless

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Stupid article. The SPX was down (not 20+% like BTC but that's relative), and have you looked at the macro Tesla chart recently, lets say the weekly. Any ape could have told you it would have a substantial dump at some stage soon. From $400 to $900 was basically a straight green line, well before they bought into Bitcoin

Yip... sensational article..
 

cyb3rt

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Waiting for Bitcoin to double or triple in value in coming months to see what the article will be then...
 

envo

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I don't get it. Tesla bought bitcoin in January of this year when bitcoin was around 33k USD. Bitcoin only went from 57k to 49k. They're still UP on their investment by 55%+-

People have no idea what's going on or how math works it seems, I guess some folks had the opportunity to buy Tesla at their lower price at least before it gained back most of the loss yesterday (considering the whole market took a dump, not just tesla)

Sure, I would consider selling my Tesla shares when/if bitcoin tanks to (and maybe less) than 33k again, which would mean a net loss for Tesla considering their investment, but do you really think the Finance people at Tesla are "teh dumb" to not also sell off if that happens?

Pfff
 
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