Carvana hit 52 week low today and under $4 share, back in Aug 2021 it was $360 share.
next few months.
I know not in the same ballpark, far from it as Tesla has earnings and massive growth... but every time I think its getting cheap its gets cheaper (now P/E 50) and a two year low.
I just cant help wonder what all the media promoters of TSLA have to say now, I am intrigued, catch a falling knife? Gosh TSLA has been sliced and diced by a massive amount over 50% loss just from March of this year, would seem like a safe bet but a I think a BIG wild card is the massive negative press that its getting now.
Twitter and a Class Action Lawsuit accusing Tesla of outright Fraud with their self driving claims. I think this is the more serious one as its coming at a time that the legacy companies are starting to turn out the same product at lower prices than Tesla and not caught up in this endless bad press.
Will it keep falling down to the more earthbound legacy automakers? I was tempted by GM (still am) and even more so now, then again with its low PE compared to Tesla I guess I consider much GM less risky... though to be honest and fair, GM down somewhere near 40% in the last year but its P/E is 6.
Have no idea why I am typing this, well, yeah, I do because I am looking to maybe switch out something in my Roth and GM was looking stable even though it still hasn't gone anywhere in 4 decades like Charle Brown with Lucy holding the football I think maybe this time might be different and if they dont screw it up maybe at the least it will be a safe conservative investment for a Roth.
Your market timing late last year was perfect but being I am in some big old conservative stocks I haven't been hurt, yeah, sure, would have been nice to jump out then jump back in maybe around April of this year (honestly haven't checked the exact month) But I am at a point in my life that I cant nor do I want to risk trying to time everything. FYI - think I mentioned before, around the time you got out I was telling my life maybe I should take profits and sit back a while but I didnt.
So I am just babbling away... wondering if its possible Tesla ends up in a death spiral, some would say that they already have, some people have paid up to around 400 a share and have to wait for a rebound or already got out. When I say death spiral I mean, for now, down to a legacy P/E ratio vs what some might still say is lofty at a PE of 50.
I mean we were at 100, who is to say we wont see 25?
Dont ask me, that is for sure!