When I was arguing with Tesla bulls that the company was overvalued, they were shouting it's gonna go to the Moon echoing Bitcoin maniacs in 2017. Break $1k and then maybe even fly to Mars with Elon at the wheel. Jokes aside. I was already expecting Tesla to be the first canary of recession but you can never know for sure when. Now when we look at the stats, Tesla has dropped 41% from its top and is in a clear downtrend, at least for some time. I'm supporting Tesla but it's a case of a wonder child that has to be put on the altar as the first innocent child. When the markets reach more appropriate valuation of Tesla, it will be time to get in. This is not financial advice, I'm just analysing the sentiment, companies and markets for my own entertainment and understanding.
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Click on my earlier analysis above