TSLA Plummets: $150BN In Market Cap Gone In Minutes; Did Elon Start Selling?

TSLA Plummets: $150BN In Market Cap Gone In Minutes; Did Elon Start Selling?

Many traders were confused by yesterday’s TSLA action where the stock rebounded and nearly closed green on Monday despite Musk’s rather explicit advance notice over the weekend that he would sell 10% of his TSLA holdings (after a twitter poll told him to do so). Well, maybe it has finally dawned on the market just how big the impact of Musk’s sale would be, or alternatively, he just started dumping because moments ago TSLA stock tumbled moments after the open, plunging more than 10%, and wiping away $150 billion in market cap.

Not surprisingly, just as we warned on Sunday the plunge in TSLA – which is by far the most popular stock on Wall Street Bets…

… stock has dragged down the entire market.

Tyler Durden
Tue, 11/09/2021 – 10:01

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