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IPFS News Link • Stock Market

Tesla Burning: Down 30% In Days As Markets Blindsided By Worst Weekly Selloff...

•, Tyler Durden

While Tesla longs may have won the last month or two as the stock ripped from $300 to almost $1000 on a massive short squeeze - they are now starting to learn the very important (and very overdue) adage that when the tide goes out, you see who is swimming naked.

Yes, every millennial and annoying family member crowing over the last 2 months at family gatherings and social events about what investing geniuses they are for buying Tesla is now rushing to slam the sell button and get ahead of what is likely to be continued, non-stop selling, as the coronavirus pandemic continues to grind the global economy to a halt and strike the investing public with fear of the many unknowns that still remain.

Tesla is down about 12% today so far and about 30% off its 52 week highs.