The recent high for TSLA, pre-coronavirus, was $968. Basically, then, TSLA has lost 2/3 of its value in a market that’s down by 30%. That’s a serious dive. I have no idea whether people still compile down-market betas (an idea spawned by someone with serious time on their hands), but if so I’d bet the TSLA number is going way up.
Interestingly, only a month ago investors were willing to pay around $900 a share in a $2 billion offering.
Personally, I don’t feel any urgent need to buy
Note: in the 10-15 minutes since I started writing this, the stock is up to $430 or so.
This is like the anti-TSLA. Two weeks ago the stock was under $3 a share–and that’s after a 15-1 reverse split last year. So the $3 is $0.20 on the old shares. The price in my headline is $1.67. That’s has started to sag and is now about $20 ($1.33 on the old shares).
My impression is that APRN meals were too expensive and that the firm turned interesting meals into blah by trying to save $.50 on ingredients. Talk about shoot yourself in the foot.
Unless the company has made radical changes recently, this just looks crazy–almost like a pump-and-dump penny stock scheme. Again, I have no interest.
DIS at $90?
Maybe. I’ll write about this today or tomorrow. I want to post this fact, though, because of the rapid changes in the other two prices.
BTW, ignore APRN and wild moves like TSLA’s are typical of a market trying to stabilize.