Tesla Falters! Will It Take The Stock Market Down With It? (Market Update 7.24.20)
SCHEDULE YOUR FREE PORTFOLIO REVIEW with Mike, John and the New Harbor Financial team here: https://www.greylockpeak.com/
All of a sudden, Tesla (TSLA), the lead stock of the current massive market rally, is faltering -- down nearly $250/share (14.3%) since yesterday's open.
This is important because Tesla embodies the faith, optimism and exuberance that has been required by investors to support stock prices up at their current levels -- which by nearly every conventional measure are now more overvalued than at any prior time in history.
As just one example, the total market cap of US stocks now exceeds US GDP by over 155%, an all-time record.
With the stock down nearly $400/share since the all-time high price of $1,800/share hit last week, there are now many recent TSLA investors sitting on painful losses. Especially those who bought call options, which have been purchased by an insanely large number of novice investors in Tesla of late.
Only one thing ends bull markets, and that's change in sentiment. The sudden painful reversal of a bellwether stock like TSLA, leaving shocked and injured investors in its wake, is exactly the type of trigger that could terminate the mania that's been driving stocks since April.
In this week's Market Update video, we interview Jim Bruce, producer of the excellent documentary film Money For Nothing about the Federal Reserve's role in creating the Great Financial Crisis, and who is now working on a new documentary about Tesla. Given his expertise, few people are better positioned to opine on the market environment we now find ourselves in than Jim.
Whether it's regarding faith in the Fed or faith in story stocks like Tesla, we're at the point where to continue the status quo, everyone must believe the hype. But what if the hype is a false promise?
Well, with Tesla stumbling and threatening to take the markets down with it, we may soon find out.
Anyone interested in scheduling a free consultation and portfolio review with Mike and John and their team at New Harbor Financial can do so by clicking here:
And if you're one of the many readers brand new to Peak Prosperity over the past few months, we strongly urge you get your financial situation in order in parallel with your ongoing physical coronavirus preparations.
We recommend you do so in partnership with a professional financial advisor who understands the macro risks to the market that we discuss on this website. If you've already got one, great.
But if not, consider talking to the team at New Harbor. We've set up this 'free consultation' relationship with them to help folks exactly like you.
-
49:05
Peak Prosperity
3 years agoA Titanic Disaster Ahead? Tech Stocks In Blow-Off Top (Market Update 7.10.20)
6 -
39:34
Peak Prosperity
4 years agoMarket Update: Flying Too Close To The Sun?
8 -
8:48
CouchInvestor
1 year agoTesla is Losing Market Share, Should Investors Worry? | TSLA Stock
-
14:49
We Profit with Stock Curry
1 year ago2023 Stock Market Predictions + Tesla Stock
9445 -
21:13
HoozhiTrades
1 year agoIs Tesla Stock In More Trouble? Can Stocks Continue Higher or 💥Crash💥 and Burn🔥 Again?!?! Key Levels
5 -
10:04
KING NASDAQ
1 year agoTESLA BROKE SUPPORT!HUGE SELL OFF IS STARTING NOW!!! #stockmarket #investing #teslastock
88 -
7:42
Muathe.com
3 years agoTesla's Bullish Ride Stalling? - #1342
7 -
8:42
Bullish Bounce
3 months ago $0.02 earnedTesla Stock 2024: Further 20% Drop Coming?
22 -
3:09
TradersHelpingTraders
1 year agoTesla Stock - Morning Analysis
16 -
5:52
TradersHelpingTraders
1 year agoTesla stock another MASSIVE morning
17