Well I don’t think they necessarily dump them. His shares could just become their shares and get booked as “securities available for sale” or whatever on their balance sheets and they move on and hope Tesla finds their Lee Iacocca and rights the ship.
Pre-market volumes are so much lower than after the bell that anything can happen. Or maybe there was some leftover bullishness in EU that doesn’t carry over to the US markets. Hell it could be all kinds of things.
Do you or anyone here actively trade futures? I’ve dabbled a bit but i really suck at technical analysis and that seems kind of important 
I don’t know anything about anything, but my layperson impression was that pretty much all technical analysis is bunk (i.e. back tests well, but predicts future not so well). Any finance pros wanna tell me how far off I am?
The best argument I’ve heard for them is that they’re bullshit but enough people believe them that it actually becomes a thing, like a self-fulfilling prophecy
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My personal view is that they’re bunk. People will point to Renaissance Technologies as a firm that uses some type of proprietary math/stats models to trade with enormous long-term success, but I think that falls outside of technical analysis, which I view as restricted to the study of prior stock price behavior and not the incorporation of other data. If you end up talking to a believer, though, I suspect you’ll be faced with a lot of “No true technical analysis strategy” fallacy.
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I think they can be helpful when added on top of fundamental analysis to try and improve entry/exit points if your fundamentals point to a stock being overvalued or undervalued.
They can also be helpful if they point to things that actually move prices like patterns in order flow.
I largely think it’s impossible to run backtests on charts and find a +EV strategy based purely on the patterns you’ve already observed.
I’m pretty sure what Renaissance / Jane Street do is far more complex than just running backtests and trading on that alone.
It’s earnings day at TSLA! How did our boy Elmo do? Some highlights:
-Revenues: down -9% y/y
-Net income: down -55% y/y
-EPS: Consensus estimate $.51, actual $.45 (third consecutive quarterly miss), down -47% y/y
-FCF: down -674% y/y
-Operating Margin: down -590bps y/y
TSLA stock price after hours:
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He said cybercab brau! Don’t you know anything?
Tesla is an AI company. Not like the actual AI companies like IBM or Amazon or Google they make cars that are are going to be driven by sentient AI robots that can deliver taco bell right to your house and it’s only gonna cost .25 and it will be Trillions in revenue!!
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“It will come maybe by the end of this year, I’m not sure. Or next year. Or five years from now.”
Teslacles:
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Speaking of IBM, how come they’ve done nothing of significance in the AI field since the Watson Jeopardy thing 13 years ago? That was as much vaporware as anything Elon has hyped up at Tesla.
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WTF that was 13 years ago?
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Probably let some nerds walk out the front door with it a la Xerox
Ford crushes earnings, strong forward guidance. Shares mooned a whopping 20 cents in AH.
I mean I guess if you’re a retiree it’s a relatively safe place to park your retirement funds for a decent return that slightly beats the risk-free rate? But damn it just sits there looking dumb even with the best of news, while it doesn’t my dumping all over you when it misses (I was holding 100 shares last time this happened).
Didn’t spidercrab make a rock solid goog call last year?
I definitely am never recommending anything to anyone else. (As the kids say, Not financial advice!) The only “calls” I can recall making are:
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“I’m really tempted to buy BABA (based entirely on Munger betting so heavily on it).” I never bought it, which is a very good thing because it’s still sitting close to a 5-year low:
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“I’m shorting DoorDash because they have an absolutely terrible business model and yet have a $50 billion market value.” I am still short DASH and am very much underwater.
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For a couple of years: “Berkshire Hathaway seems quite cheap relative to the market. I am buying lots of it. And, since Apple is such a large chunk of Berkshire’s value and Apple appears richly valued, I’m also going to peridically short it as a semi-hedge.” That worked out very well.
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After the most recent annual report several weeks ago: “This is the most negative I’ve been about Berkshire in quite some time. Their outlook is not great and their stock has gone up quite a bit, I’m selling a bunch (sales in retirement account and selling calls in taxable).” Stock is down maybe 3-5% since then, but it’s way too early to tell if that was a good idea.
Basically, I own market index funds and Berkshire, where the weight of Berkshire varies with my whimsical notion of whether it’s over or undervalued. Anything else I do or say should just be treated like the ramblings of a crazy person.
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oh, nice - gonna go tell my wife that, actually, I am right sometimes.