Tesla (TSLA) was down once again yesterday…
It’s now just below $168 and is down about 55% this year.
One of the most important lessons in life is that you always have less bandwith than you think you do.
This especially applies to those who make the greatest achievements.
If during the course of your entire life you’ve defeated one obstacle after another, you may find it impossible to acknowledge that there’s something not worth your time.
You may be the kind of person who can defeat any problem given sufficient time and concentration – but both of those come in limited quantities.
Elon Musk is one of the most accomplished men of his time… but his resources are not infinite.
And as Musk gets personally involved in trying to set up the details of Twitter, TSLA investors are getting concerned.
Of course, there is the possibility that Musk will be able to transform Twitter into the “Universal App” that he’s dreamed about for so long.
But that will take time – and TSLA investors may run out of patience first.
Every trade has a host of factors that need to be considered. Don’t miss Chris Hood’s column on them today.
Keep Moving,
THE OFFENSIVE is already underway.
WORD ON THE STREET
Musk Delays Verification, Railway Strike Nears, Fed Head Fake
- Chaos Reigns, Take 187 – Twitter continues to be such a horrific mess that we want to turn away, but we cannot. Elon Musk is delaying his plan for users to pay for verification out of fears that certain brands or personalities might be imitated. Anti-Musk users have been causing havoc on the platform by pretending to be businesses or corporate leaders and tweeting offensive material.
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Railway Union Rejects Deal- SMART-TD, one of the largest railway unions in the country, has voted down an agreement with railway management. Another union, the BLET, approved the deal but said it would honor the picket line if other unions call for a strike.
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“More Work To Do” – The Fed continues to hammer away at the expectations game. Cleveland Federal Reserve President Loretta Mester walked the tightrope by telling investors what they want to hear, that “we’re at a point where we’re going to enter a restrictive stance of policy.” However, she added that we have “more work to do” before inflation comes close to the Fed’s target of 2%.
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New Deal For Disney – Bob Iger is back and he’s making big moves. Kareem Daniel, the company’s head of media and entertainment, is gone. Iger says he’s hoping to reorganize the company to put “decision-making back in the hands of our creative teams.”
THIS TRADER MADE $64,000 IN JUST ONE WEEK
And he never risked more than $10,000 at a time…
HOT SPOTS: What’s Going on in Geopolitics
- The War Of The License Plates – Symbols are important. Ethnic Serbs are refusing to change their license plates to those from Kosovo, arguing that the loss of the territory from Serbia was a humiliation. Negotiations between the two powers have failed. Serbian Foreign Minister Ivica Dacic has said Kosovo should delay its plans to start fining people who don’t use Kosovo license plates, warning a much bigger conflict could lie in store.
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“General Armageddon” Under Pressure – While most Russian hawks went along with the retreat from Kherson, the commander of Russian forces is under pressure to show results. General Sergei Surovikin is under heavy fire because he was the main force calling for a withdrawal. Now, media outlets are criticizing him for not showing gains elsewhere in Ukraine.
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Saudis Execute 12 By Sword – Crown Prince Mohammed bin Salman has promised to tone down Saudi Arabia’s brutal justice system. However, apparently it will take time. The Kingdom has executed 12 men for drug offenses, with most dying by beheading.
CUTTING EDGE: What‘s Happening In Tech
- Genesis Flirts With Bankruptcy – Brokerage Genesis may be the latest domino to fall in the crypto crisis. The company is seeking – and failing – to get $1 billion in fresh capital. Genesis said “we have no plans to file bankruptcy imminently.” I guess that counts for something.
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Hive Hits One Million Users – Though Elon Musk claims a record number of people are using Twitter, alternative social networks continue to grow. Hive, a Generation Z focused social network, has now hit one million users. Open source platform Mastodon has grown as well.
- POTUS: “Critical” To Regulate Crypto Now – G20 leaders, including President Joe Biden, issued a statement calling for more regulation of cryptocurrency. “It is critical to build public awareness, to strengthen regulatory outcomes and to support a level playing field, while harnessing the benefits of innovation.” The Financial Stability Board has proposed rules that would facilitate global regulation of cryptocurrency.
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