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Just how this can still happen since the banking crisis beggars belief
Battery Day on 22nd Sept will be interesting. All sorts of rumours flying around
https://www.msn.com/en-us/autos/news/elon-musk-hints-at-major-capacity-increases-as-tesla-battery-day-approaches/ar-BB18mkrO
I guess it's like the betting exchanges, You can bet on a horse race to win or lose, you can research the race card and place a bet and see it through out of a love for the sport, or, you can trade in the back/lay market either before the race starts and try and green up to lock in a profit regardless of the race outcome or even bet "in running" by trying to judge the outcome as the race progresses but before it ends, often quickly laying a horse that falls at a good price before the general public or betting shops catch up. In the early days of Betfair some "shops" were set up with access to the fast pics that they use at the track rather than the delayed TV broadcasts, they had 3-4 second advantage over the bookies and general public so they could clean up "in running" as they know which horse won or lost before anyone else did apart from those at the track.
That kind of betting has nothing to do with horse racing at all it's simply playing the money market, same as stock market day traders, short sellers etc.
https://www.bbc.co.uk/news/business-53996191
Apple is probably the largest single holding across my wife & my pensions and ISA, we have just under £10K invested as it's quite a large holding in 3 of our funds....So long may the stock price rise!
That's a 24% drop in 24 hours or so
That's a very choppy 2 days
it's around $440 now, so 19% down on yesterday
Time to check the value of those US Tech managed fund values tomorrow afternoon!
The hard graft was done by 2 of our favourite recent whipping boys, short selling/activist hedge funds and the MSM (Financial Times basically), who were telling everyone a year ago that Wirecard were wrong 'uns.
“The substantial increase in Tesla’s share price means that we needed to reduce our holding in order to reflect concentration guidelines which restrict the weight of a single stock in clients’ portfolios,” Baillie Gifford’s James Anderson said in a statement.
“However, we intend to remain significant shareholders for many years ahead. We remain very optimistic about the future of the company. Tesla no longer faces any difficulty in raising capital at scale from outside sources but should there be serious setbacks in the share price we would welcome the opportunity to once again increase our shareholding.”
https://www.cnbc.com/2020/09/02/teslas-largest-outside-shareholder-reduces-holding-citing-portfolio-restrictions.htmland what about over 2 days?
Tesla prices closed as follows:
$498.49 31st August
$475.04 -4.7% 1st September
$447.37 -5.83% 2nd September
-10.3% over the 2 sessions, still up over 5 days. Easily explained by the Baillie Gifford rebalancing although future overnight trading shows another 2.26% fall potentially. It's noise when you look at the bigger picture YTD below and I would expect the stock to rocket up after Tesla Battery Day announcements on 22nd September when all the RobinHood millennial investors start foaming at the mouth and piling in and the Tesla Fanboi YouTubers get all moist over whatever new battery tech Elon Musk unveils.
Either way my personal exposure is reduced by the Baillie Gifford rebalancing as that's the only fund I carry that has Tesla in the portfolio. I trust the fund Managers to make the right decisions for long term fund growth.
In my opinion, you cannot use traditional valuation methods to assess this stock or the FAANG stocks, the RobinHood crowd don't care for it and will keep piling in, the weight of their retail money is now quite significant and is counter to the traditional institutional way of investing. People are DIY investing in single stocks in more numbers than ever via their phone apps, I'm not one of them, and I'm not saying it's right but I think people saving and investing is a good thing and should be encouraged.
I've worked out that $1,000 of Apple shares in 1992 are now worth $3.2M
"You wouldn't imagine Iggy Pop to be a shrewd investor, but he has his methods and, while they're somewhat out of leftfield, they're not to be discounted.
"I had the impression that Apple, the corporation, had successfully coopted the good feelings that the average American felt about the culture of The Beatles, by kind of stealing the name of their company. So I bought a little stock. Good move! 1992! Woo!"
https://www.abc.net.au/doublej/music-reads/features/five-things-we-learned-from-iggy-pops-john-peel-lecture/10272704