Re:Michael Burry warning of the biggest market bubble in his...
by spywaregorilla on Thursday June 17, 2021 @10:08AM
(#27539727)
> Are you actually trying to deny that Tesla's stock price did not dropped around 25% since the start of 2021?
I'm saying that calling the stock a train wreck is wishful thinking. Crying doom and gloom because the stock is down 25% over the past 6 months when it is also up 200% from the past 12 months is some serious cherry picking. Yes, the stock was likely overvalued by hype for a period. Maybe it will continue to fall for a while. And? On June 1st it was $623. Well, in early June last year it was below $200. To call it anything but a major success is one heck of a long shot.
> a 63% drop in sales
I don't really follow these things but I'm pretty sure that's not correct.
edit: decided to read their financial statements. Q1 2021 automotive sales appears to be up 77% YoY. To make such confident statements on the direction of a company while making basic, yet enormous mistakes like this is exactly what I mean by wishful thinking.
I'm saying that calling the stock a train wreck is wishful thinking. Crying doom and gloom because the stock is down 25% over the past 6 months when it is also up 200% from the past 12 months is some serious cherry picking. Yes, the stock was likely overvalued by hype for a period. Maybe it will continue to fall for a while. And? On June 1st it was $623. Well, in early June last year it was below $200. To call it anything but a major success is one heck of a long shot.
> a 63% drop in sales
I don't really follow these things but I'm pretty sure that's not correct.
edit: decided to read their financial statements. Q1 2021 automotive sales appears to be up 77% YoY. To make such confident statements on the direction of a company while making basic, yet enormous mistakes like this is exactly what I mean by wishful thinking.
https://tesla-cdn.thron.com/static/R3GJMT_TSLA_Q1_2021_Updat...