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👉 Elon Musk loses drive: who made money on Tesla's problems⠀
⚠️ Failures of the controversial owner of Twitter pleased not only his critics. For many years, sceptics of the idea of electric cars received only losses from transactions with its shares. But in the past year, according to S3 Partners, investors who short Tesla Inc. (NYSE:
TSLA) expect to receive more than $15 billion in profit. Interest in selling these securities continues to grow.
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Last week was the worst since the start of the pandemic: Tesla shares fell 18% in five days, and at the close of trading on Friday, December 23, shares were worth $123.15 − this is the lowest price in more than two years. During the year, the share price lost more than 60%. The market value of the company has decreased by $85 billion and is less than $400 billion − the super-innovative Tesla is now cheaper than the ancient oil concern ExxonMobil.
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On Thursday, Dec. 22, Tesla said it was ready to offer U.S. customers a $7,500 rebate on its two top-selling models, raising concerns about consumer demand for electric vehicles next year. Investors selling Tesla shares are also irritated by Elon Musk's disconnect from business reality after buying Twitter.
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Since November 2021, the head of Tesla has dumped more than $39 billion worth of personal shares on the open market, in part to fund the Twitter purchase. The last such sale caused the price to drop by almost 9%, after which Elon officially promised not to sell Tesla shares for at least two years.
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Analysts at Wedbush Securities have lowered Tesla's price target from $250 to $175, but the «outperform» rating will remain for the time being. We also believe that if Musk becomes more active in real business, and the board of directors initiates a share buyback, Tesla will return to the bull trend next year.
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Traditionally, we remind you that the weakly liquid holiday market is already ready to remove the StopLoss of careless speculators on both sides of the price, so any trading activity this week and next is not recommended.
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Profits to y’all!