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Tesla Short Squeeze?
Trent Grinkmeyer
June 21, 2023
Rumor has it that Elon is the Squeezer
The Cult of Elon struck again yesterday (I know I’m going to get crap for my views on Tesla on Fridays Best of US Call for Sure). Tesla was up 5.34% yesterday based on, “Rivian (RIVN) announced Tuesday morning it has signed a deal for its customers to use Tesla (TSLA) superchargers beginning in 2024. The move puts Rivian alongside General Motors (GM) and Ford (F) — all companies that recently signed charger agreements with TSLA. Tesla stock advanced Tuesday while Rivian stock surged.” -IBD
I got to believe a ton of short covering was going on along with the boom in 0DTC options that catapulted TSLA towards $275. Presently trading at a P/E of 74, what a bargain! (sarcasm).
More and more I see stocks like Tesla and Nvidia going to the MOON and I question the reasoning. This is where my emotions get in the way of making money. I shouldn’t care why they go up, just following the process and make money.
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Nest resistance is $290.
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