Another One Bites The Dust?

It looks like Tesla has lost another senior accounting officer, as the massive exodus of executives continues. 

The next graphic shows that more sheep are willfully lining up to be shorn, as the number of shareholders is increasing dramatically while the share price drops.

Perhaps the buyers believe there'll be a big bounce, as usually happens, and perhaps they want to use whatever bit of margin buying power they have left before general markets tank in earnest and they 're forced by margin calls to liquidate.

There will come a day however when the stock plunges, not bounces.  So far the selling has been very orderly and mild.

It's not short-selling pushing the price down, as there's a rapidly increasing amount of shares available for borrow.  In other words, many who had sold the stock short have covered during this price swoon.  It'd be trading much lower without the "value destroying" buying to cover short positions.

We'd say "you're welcome for propping up the price" to the imprudent longs still holding this stock, however we did not buy to cover a single share.

We remain fully short Tesla.



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