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TSLA - Not if but when?
This IPO seems pretty much doomed. The company is worth 2 billion dollars at the time of this writing, launched in the beginning stages of a new bear market, is bleeding money like a charity, and will be heavily diluted in the near future. This is a short if I ever saw one. The whole thing looks like just an excuse for Elon Musk to cash out.
With that said, it's so...new...and yeah, ok, it's a 'sexy' concept with the federal government's backing. Will the powers that be feel pressured to run this thing up a bit? Maybe, but its hard to see people being dumb enough to hold on to such a roundly criticized pig when the overall market is tanking.
So, is it safe to short now, or should we wait until after we can get a good chart on this thing? Hard call for me.
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I could see this being a speculative buy in the single digits. It's a money loser, but it has some deep-pocketed friends in the U.S. government, Daimler, and Toyota. I suspect anyone who bought at a premium to the IPO price will regret that though.
Good question about whether it's worth a short here. Maybe on a dead cat bounce with a tight stop?
There are no shares to short and no options available yet.
TSLA is biund to drop badly but there's no way to play it on the downside right now.