Weeell Doggies!
Nice day, up 5% @ $170.18, 124M shares traded.
Unexpected and welcome.
Have to say, I don't know how to enjoy this feeling any more, there have been so many days when I was just "conditioned to endure the fall." I must have forgotten what it felt like on the way up to $414.50 ($6218 on the old scale where I first bought in 2013 at $38) because it sure feels like Tesla has only ever gotten hate from the media and Wall Street, and the two have always gotten their way. Of course that can't be true, I enjoyed plenty of super TSLA-climbs... just can't remember the feeling any more. I endured the dreadful fall down towards February 2016 which is what we now call the Speigel Bottom. I endured the dreadful fall down towards June 2019 when Tesla was "losing $4,000 on every car it was making" according to the bears. I've so far endured this two-and-a-half-year fall (even though it has seen ups and downs the likes of which would make a trader glow with pride)... and at some point there is going to be a turning point and we will embark on a serious climb. Could it be this point? TSLA is up 24% from its low on Monday morning. What has changed?
Firstly, we now know the smaller car, more affordable, easier to drive in those places around the world less spacious than the USA, and either manually driveable
or autonomous... is only months away; end of the year if everything goes well.
Secondly, existing Tesla cars have self-driving software that shows it is really,
really working and very close to being finished.
Those two items are finally tangible for Wall Street, and IMO they are getting out of the way. There was a super-climb in 2013 while Tesla was first making a profit. Then another super-climb following the tumble associated with vehicle fires (which only reversed when Elon opened his truth-telling mouth at the original Gigafactory announcement). Then a super-climb up anticipating the reveal and first deliveries of the Model 3, and finally the mega-climb from June 2019.
I feel like we are about to see another super-climb. Despite the depressed financial climate preventing a lot of people from affording cars, I think TSLA is still going to rise based on the completion of FSD and anticipation of new vehicles.