Tesla Gets a Scrape, But Momo Should be Fine
- Posted by UpsideTrader
- on November 5th, 2013
“The stock price that we have is more than we have any right to deserve”- Elon Musk last week
Tesla ($TSLA) screwed the pooch and is currently down about $17 or 10%., but its moving around fast right now. I wasn’t long or short but when the CEO says it’s overvalued, you should listen. The stock will go lower from here. My P&L went red after the report because I own some other momo names and in sympathy they have decided to move lower as well. Not worried as I am in stocks that have already reported earnings. You will get more of the Elon Musk show tomorrow as $SCTY reports after the close.
I say slap a 12 cylinder diesel in them anyway. Sell a gazillion.
Two stocks that look like the want to rejoin the ranks of their momo buddies are $YELP and $NFLX. There was substantial battle damage to the latter, but the story still rocks and will only get better.
Zillow ($Z) had a decent report after the close and is higher in the after market. I like it here. I just don’t know id the number was good enough to really scare the shorts.
Fossil ($FOSL) reported a nice number and is up a five spot in the after hours.
Twitter ($TWTR) gets priced tomorrow after the close of the market. Should be a hoot.
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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Joe was on Wall St, for twenty five years and his career took him to the retail, institutional and capital markets... More »
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