Typical market manipulation move. He’ll probably announce something regarding bitcoin and the federal reserve today to artificially bump that up too.
Typical market manipulation move. He’ll probably announce something regarding bitcoin and the federal reserve today to artificially bump that up too.
Except his cult is made up of trailer park dwellers that elected him because they couldn’t afford the $100 it takes to fill up their 2004 RAM 3500. Those people aren’t buying Teslas which is why their stock is down 50% since the beginning of the year.
Stock price isn’t based on what people are buying, it’s based on what people think the value of the company is.
If the president endorses a product, the market as a whole values the company that makes said product more.
Case in point, Tesla stock is up over $8 since Trump’s announcement.
It may not be directly related to people buying as in someone buying a Tesla won’t ratchet up the share price that day, but sales absolutely do affect a company’s value once the quarterly reports come out. What people speculate it’s worth doesn’t really matter if they’re not making any money currently and not expected to in the foreseeable future.
I don’t think Trumps endorsement is really worth anything to Tesla unless he plans on sinking a ton of taxpayer dollars into them. The price is now up $11 but can just as easily drop back down as the only people being swayed by the president’s statements are his sycophants.