Re:Q2 2020 Update
by kelnos on Wednesday July 22, 2020 @05:29PM
(#23921820)
It's speculation, and irrationality, neither of which is new to the stock market.
People think the stock will go up, because it's a hot company with a lot of press, so they buy it. More people buy it, and it becomes a self-fulfilling prophecy: the stock goes up.
Eventually Tesla will either find their groove and be a breakout success, or the stock price will fall. It's just a matter of time, and depends on when people get tired of waiting.
Remember also that VW is, comparatively, a super boring company.
These are all bad reasons for Tesla's stock price, but they are reasons.
People think the stock will go up, because it's a hot company with a lot of press, so they buy it. More people buy it, and it becomes a self-fulfilling prophecy: the stock goes up.
Eventually Tesla will either find their groove and be a breakout success, or the stock price will fall. It's just a matter of time, and depends on when people get tired of waiting.
Remember also that VW is, comparatively, a super boring company.
These are all bad reasons for Tesla's stock price, but they are reasons.