The Tesla Scam Continues

by JDH on May 4, 2019

Last week I asked the hypothetical question Is the Tesla Fraud Finally Over?

Apparently the answer is no, because the Scamster in Cheif, who last year said “funding secured” and he would take the company private at $420 and there was no need to raise any further financing, sold stock at $243 this week, because they are bleeding cash and need it to stave off bankruptcy for another few months.

Why would investors buy this load of crap?  Because if you are a true believer, facts don’t matter.  Elon said some stuff about a fleet of self driving taxis (which is probably 30 years away), and the lemmings bought it.

But, as the stock chart clearly shows, Tesla is in a strong bear market, and the little blip (off the lows set in 2014) are of no long term consequences.

So, my friends, load up on puts, or shorts, or however you want to play it.

As I have said previously, this is not a core investment for me.  I only play with a tiny amount of money, because I know that if Elon makes some other silly announcement the stock will spike, but it’s fun to play nonetheless.

Next week I’ll share the good news on pot stocks and a possible reversal in gold, but for now, that’s enough.

See you next week.