Tesla has been shorted through all its price supports. Heading into oversold territory below $150. As Musk has sold $10 Billion worth of Tesla shares to finance Twitter.
Elon Musk's Twitter mess is now entangling his electrical car company Tesla which stands at $10 Billion worth of shares sold to finance Twitter's new direction, indicating to the market that it was heavily used as a collateral backstop in the overall acquisition of social media company. And since Twitter is now a private company, the short position/s are piling up on Tesla (Chart 1). As noted with the Exchange-Traded Product (ETP) shown on beneath pane, although leveraged x 3, reveals the extent of short positions and their instruments being attached to the Tesla share price.
$150 could be the last price support for Tesla, as seen with Tesla futures (pale green line) if no bids occur and/or short covering.
So, in light of the price collapse of Tesla and its connection to Twitter, Twitter may have to be relisted as a public company before the so called three years from now timeframe to save it's self and possibly Tesla. Which in turn would jeopardize Musk's awkward paleolibertarian utopia of Twitter.
For all my analysis re Tesla/Twitter and Musk refer: chiasmusmagazine.blogspot.com/search?q=tesla
Comments
Post a Comment