Saturday, March 15, 2025

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 Oops.

A series of anti-Musk protests and Tesla boycott efforts have erupted across the country," the Business Insider reporter notes. "Vandalism incidents have also taken place, including gunshots fired at a Tesla showroom and its vehicles and arrests made over damage from Molotov cocktails. Investigators believe a Tesla supercharger station that was engulfed in flames was an act of arson…. The automaker's shares have steadily declined over the last couple of months, plunging 48 percent since hitting an all-time high in December amid a wider market rally."

Altchek adds, "At market close on Friday, it was down nearly 40 percent from the start of the new year."
I paid little attention to stocks until I inherited a small portfolio a few years ago. I still don’t follow the market closely or try to trade stocks. The ones I have go slightly up and slightly down but, in the long run, hold their value as if they were cash in a savings account.

In normal circumstances I’ve never consider selling them, in part because I inherited them (in calamitous circumstances, I could lose what I inherited. However, it would bother me less than if I invested cash I’d saved for retirement, and lost that investment. It’s not entirely logical, but it’s how I deal with my inheritance.). That said, if I had a stock that was dropping rapidly, I’d drop it. If I had a stock that had dropped 48% since December, I’d drop it like I stole it.

As I say, I don’t even consider myself a stock investor. But a 40% drop in 10 weeks?  It’s hard to see the value in it anymore.  In the long run I might recover my losses; but I’d prefer to move to safer investments.

I realize large and institutional investors might have a completely different analysis, but this much fall in this short a time makes me think the bubble of Tesla has burst. That just wipes out a lot of investor value.
Pretty sure Jones is calling the protesters “lizard people.” That’s the way to get people to buy cars!

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