That's the way it is with MOMO stocks when the curtain is lifted. Gains evaporate quickly!! This stock should have never been this high. The selloff shouldn't have been a surprise to anyone. A 259% gain in less than 6 months and the company is not really profitable. The crooks (GS) pumped it up and made a huge amount of $$$ doing so. Now they will do the same on the way down. The took the $$$ from the pumped up overvalued stock to do a secondary to pay the gov't loan. Who wouldn't want to have the opportunity to use "other peoples" money to pay down debt. LOL. TSLA makes a good car, but they will never sell enough at the current price point to justify this valuation. I've been saying that for a long time... but now that the crooked GOLDMAN SACHS has spoken I guess the lemmings believe it...for now. I'm waiting for pumper CEO Elon Musk to tweet something soon to try to get the momo crowd going again. This market is so crooked...its really not investing anymore. Its gambling...period!!
Sentiment: Strong Sell
Listen friend, if this sell off caught you totally off guard, then give your money to a broker. This much of a sell off is surprising but when you see all the signs at once...crazy evaluation...reporting next week....sell on the news ((nasdaq entry)....no dividend protection.....priced beyond perfection.....I just told one of my friends, that shorts this easy dont come along very often and I'm kicking myself for covering earlier today!!
that is how it always happens when you buy a stock on hype not profit and loss statements, also you were warned by every news media about how over valued it got and this is just the start, elon brokers are done selling there shares and they got high prices and if you still hold this your in for a rude ride down