r/wallstreetbets Feb 23 '21

Walking into the stock market today Meme

67k Upvotes

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648

u/Tot_esho_ugodnik Feb 23 '21

What happened? Everything is down today and so red! (If someone can actually answer, please do, thank you )

45

u/SmitePlug Feb 23 '21

Very natural to have red days, tesla is having a tough few days and it’s the foundation of the bull market we’ve been having. Less bullish stocks aren’t doing too bad but they’re going down a little too. We could see a recovery we could see a correction

52

u/DimesOnHisEyes Feb 23 '21 edited Feb 23 '21

Tesla has dropped about $250 in a month so yea I'd say it's been rough.

36

u/SmitePlug Feb 23 '21

that’s not crazy though if you account for it’s growth in a year. It dips sometimes this ones a little rougher but GME has definitely stirred the market and made red a bad taste instead of a part of the pallet. Today was bad at open but it’s about as bad as yesterday now and slowly recovering back i think we’ll be okay someone needs to teach the rookies that red is natural. if not they’re going to sink us all

3

u/BigDaddyHugeTime Feb 23 '21

Yeah I started my portfolio by buying 1 share of TSLA @ $1500. It then split 5 ways and now it is where it is.

I know it's definitely not normal growth, but god damn does it feel good.

I'm also not scared of red. If I had more spare money to invest I'd be buying the dips right now.

1

u/LeaLenaLenocka Feb 23 '21

Is it normal to be completely ok with red and get nervous as fuck at first green number?

I am a noob, but this is my biggest issue right now. Does anyone know how to stop this?

7

u/Objective-Answer Feb 23 '21

I mean, looking back at it, seems like the norm with tesla

10

u/DimesOnHisEyes Feb 23 '21

Perhaps. But that's a big drop in a single month. I made a lot of money on tesla but I sold just before last earnings call. Glad I did looking back.

2

u/MasterKongQiu Feb 23 '21

Pretty sure Michael Burry is using his magical autistic powers on Tesla now that he has a short position.

1

u/DimesOnHisEyes Feb 23 '21

I don't think he is wrong though. There really is no reasonable way to look at tesla and say it supports a $900 price.

Thanks for the ride tesla oh and the money but I think it's being corrected and I would not be surprised if we saw further significant drops.

2

u/MasterKongQiu Feb 23 '21

Not sure if he's right on his 90% drop statement but everyone knows Tesla has to come back down. There's just not a lot of people with the combination of balls and capital to short it at this point.

2

u/DimesOnHisEyes Feb 23 '21

That may sound crazy but Tesla only made $550 million. I haven't actually done the math on what the market cap would be and all that stuff but $550 million dollars isn't very much. Compared to other car companies and depending on how many shares they have released $100 per share price may not be that unreasonable.

1

u/Chocostick27 Feb 23 '21

My portfolio agrees.