Today is pure options play, I would wait until next week to buy. Look at NFLX, tanked the next day after earnings, bounced on options day and resumed tanking the following week.
Cooks only options to get Apple running: China without the backdoor, revolutionary product, Elon Musk as CEO or Dividend increase.
Maybe then they slow their cash burn rate and achieve the 500k annual target.
Of course, the writing was on the wall yesterday! Next week will be interesting.
Musk has a vision and Apple has money. The only other guy capable of pulling something like this off himself is Bezos.
Musk should have done it before earnings over $240, now he may get no choice around $180 in the next 2-3 weeks.
A different kind of car company, yeah, but look at it's fate. They are burning through cash with 49 cents out of every $1 in liability they have to spend. The coming secondary offering and reduce government support should send this back to the low $100s where it belongs.
I think the board of directors have a fiduciary duty to shareholders to make sure the person in charge is not losing his mind. I can just see class action lawsuits from bagholders.....
Wait for a dead cat bounce tomorrow and then short the same amount you were long. Almost guaranteed next week breaks $200.
After reading commentary by Michael Pento "Tesla is a hot mess" now I believe what Chanos was thinking when shorting. There is no way Tesla can ever become profitable without government subsidies and if they have a hard time making 80k vehicles per year, 500k is likely a pipe dream. Sadly the Tesla brand is a premium that larger forces on wall street and big auto want to see damaged. All of Musk's ventures rely on government assistance and with republican Trump in power, looks like the shareholders will foot the bill.
Overall this market looks to tank after a run up from Feb lows, the next drop will be coming in a few weeks and will linger for some time during the elections circus. The first stocks to drop are risky pe like Tesla and NFLX. GLTA