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Why are stocks crashing and cryptos gone to shit?
- Thread starter glockman
- Start date
Hr bought tesla he said?
Crypto liie gold. If it goes ul keans the world economy is fucked
This chicken moron bought more Tesla when it was around US$800 a share.
My shares in DBS, OCBC and UOB have gone up this week. Stick with the local banks. PAP has done a wonderful job with our banking sector. We're also miles ahead of fintech companies like Square or Paypal. They have CashApp and Venmo, we have Paylah and GrabPay.
Fed interest rates have up went up recently by 50% from around 1% to 1.5%. That's enough for sophisticated investors like myself to cash out of my blue chips in Apple and Facebook and put them in Treasury bonds instead.
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Tesla share price plunge knocks $267bn off market value | Stock markets
The Tesla Model S, a premium electric sedan. The company’s shares dropped by 7.5% in early trading in the US on Friday to $575. Photograph: AP
Decline wipes billions off Elon Musk’s fortune as investors fear firm is vastly overvalued
Sat 6 Mar 2021 04.41 AEDT
A sharp decline in Tesla’s share price has wiped more than $250bn (£193bn) off the value of the electric car company, and dragged down the value of an Edinburgh-based investment fund that is one of Tesla’s biggest backers.
The shares dropped by 7.5% in early trading in the US on Friday to $575 – setting them on course to close down 16% this week and 35% below their record peak of $883 on 26 January.
The decline has knocked $267bn off Tesla’s market value, from $834bn in January to about $567bn. The collapse has also wiped billions from fortune of Elon Musk, the chief executive, who owns about 20% of the shares.
Musk, who lost his briefly held title of the world’s richest person last month, has seen his paper fortune drop by $7.5bn so far this year to an estimated $162bn.
The fall in Tesla’s shares has been felt hard by UK investors in the Scottish Mortgage Investment Trust (SMT) and other Baillie Gifford funds, which are big investors in Tesla.
SMT was the second-largest faller in the FTSE 100 on Friday, down 6%. Its shares, which rose more than 100% last year powered by Tesla gains, are down 26% from a high in February.
Baillie Gifford US Growth Trust was the biggest faller in the FTSE 250 index, down 12%. The trust’s managers began selling down their Tesla shares at the start of the year.
SMT halved its weighting in Tesla in January from 8.9% of the fund to 5.1%.
Analysts said Tesla’s shares were falling as investors worried that the car company may be vastly overvalued. At the same time rising US bond yields are making companies that pay small dividends unappealing. Tesla has never paid a dividend.
Ron Baron, a longtime Tesla investor, revealed on Thursday that he had sold about a quarter of his company’s stake in the electric carmaker. Baron told CNBC that his firm sold 1.8m of its 8m Tesla shares in recent months at an average price of $660. Baron’s firm had bought the shares at $42.34 apiece, according to CNBC.
However, Baron said he thought Tesla’s share price would hit $2,000 within a decade. “It was painful selling every single share,” he said. “Their prospects are brighter than they have ever been.”
Baron said he had not sold any of the more than 1.1m Tesla shares that he owned personally, and did not plan to. “I’m going to hold it another 10 years at least,” he said. “I told Elon that I would be the last out.”
Topics
Decline wipes billions off Elon Musk’s fortune as investors fear firm is vastly overvalued
Sat 6 Mar 2021 04.41 AEDT
A sharp decline in Tesla’s share price has wiped more than $250bn (£193bn) off the value of the electric car company, and dragged down the value of an Edinburgh-based investment fund that is one of Tesla’s biggest backers.
The shares dropped by 7.5% in early trading in the US on Friday to $575 – setting them on course to close down 16% this week and 35% below their record peak of $883 on 26 January.
The decline has knocked $267bn off Tesla’s market value, from $834bn in January to about $567bn. The collapse has also wiped billions from fortune of Elon Musk, the chief executive, who owns about 20% of the shares.
Musk, who lost his briefly held title of the world’s richest person last month, has seen his paper fortune drop by $7.5bn so far this year to an estimated $162bn.
The fall in Tesla’s shares has been felt hard by UK investors in the Scottish Mortgage Investment Trust (SMT) and other Baillie Gifford funds, which are big investors in Tesla.
SMT was the second-largest faller in the FTSE 100 on Friday, down 6%. Its shares, which rose more than 100% last year powered by Tesla gains, are down 26% from a high in February.
Baillie Gifford US Growth Trust was the biggest faller in the FTSE 250 index, down 12%. The trust’s managers began selling down their Tesla shares at the start of the year.
SMT halved its weighting in Tesla in January from 8.9% of the fund to 5.1%.
Analysts said Tesla’s shares were falling as investors worried that the car company may be vastly overvalued. At the same time rising US bond yields are making companies that pay small dividends unappealing. Tesla has never paid a dividend.
Ron Baron, a longtime Tesla investor, revealed on Thursday that he had sold about a quarter of his company’s stake in the electric carmaker. Baron told CNBC that his firm sold 1.8m of its 8m Tesla shares in recent months at an average price of $660. Baron’s firm had bought the shares at $42.34 apiece, according to CNBC.
However, Baron said he thought Tesla’s share price would hit $2,000 within a decade. “It was painful selling every single share,” he said. “Their prospects are brighter than they have ever been.”
Baron said he had not sold any of the more than 1.1m Tesla shares that he owned personally, and did not plan to. “I’m going to hold it another 10 years at least,” he said. “I told Elon that I would be the last out.”
Topics
Never catch a falling knife.
This moron is a loser aussie hick, with business in auto repairs. Of course he is against EVs, they threaten his livelihood! EVs are the future. Period!
SGX counters are starting to look bullish. It was dead for so long going sideways, at least now there is sign of life.
Where is your faith? Why do you have paper hands? Buy the dip! Time to load up on appl, tsla, amzn, et al. We are all doing that.
ka ching!
Make and lost, but can't really say lost also. Because as long as don't sell, there is no lost. Need to invest for the mid and long term, that's the nature of the beast. If you see I sell off my grand banks, means jialat liao.
If u got the balls and want to strike it rich... pick the biggest decline stock , pump in $50k and look at it after 10 years. Send me a thank you note.
If cryptos are dropping its good news. I am waiting to buy in
SGX counters are starting to look bullish. It was dead for so long going sideways, at least now there is sign of life.
Where is your faith? Why do you have paper hands? Buy the dip! Time to load up on appl, tsla, amzn, et al. We are all doing that.
I've bought and held Apple shares for years. As much as I do not use Apple products, I can't help but admit that they have great products and good service, and people like them. Missed the Amazon boat though. I still think Tesla is way overpriced. Not buying.
For local stocks, most my money in local counters are in our local banks and singtel. They have the stamp of approval from PAP and will stand the test of time. I expect Singtel's earnings to show huge improvement once they launch their digital bank.
Oh you mean like chartered semicon and hyflux?
You need to buy amazon and tesla since they are currently in a dip. I am sure these counters also have the stamp of approval from PAP (although they have not mentioned it explicitly). But as I am writing this, tesla is rising again! What would be a good price for tesla? US$150?
save yr moneyYou need to buy amazon and tesla since they are currently in a dip. I am sure these counters also have the stamp of approval from PAP (although they have not mentioned it explicitly). But as I am writing this, tesla is rising again! What would be a good price for tesla? US$150?
buy marlboro red or camel
haaaa
You need to buy amazon and tesla since they are currently in a dip. I am sure these counters also have the stamp of approval from PAP (although they have not mentioned it explicitly). But as I am writing this, tesla is rising again! What would be a good price for tesla? US$150?
Purchase of a FAANG stock is likely to be good at any price, before or after the dip. They will likely continue to rise in the long term because they are still innovating, expanding and seeing increasing revenue.
The PAP stamp of approval is for local stocks or companies backed by GIC before they IPO. You could consider Door Dash. GIC was one of its early backers.
Semiconductor stocks were trading sideways for years. They only became prominent this year due to the shortage of semiconductor chips. PAP did the wise thing to sell semiconductors and focus more on property and REITs. Look how much our property prices have boomed since.
As for Hyflux, we want their technology. Hyflux screwed itself by messing around with its contract. Nobody asked them to be so extra to build power generators beside their water treatment plants.
