Tesla's meteoric tear is unraveling this month as experts start to worry that the stock's performance could start to mimic bitcoin's extreme volatility after the firm disclosed a $1.5 billion investment in the world's largest cryptocurrency earlier this month.... [+]Shares of Tesla at one point plunged more than 10% Tuesday morning, pushing their losses since February 8–when the firm first disclosed its $1.5 billion bitcoin investment–to more than 25%.
That crippling blow to Tesla stock has erased about $215 billion in the firm's market capitalization, which stands at about $620 billion, since the investment, at which time the firm's market cap was near a high of $844 billion. The recent plunge comes as bitcoin prices tank about 7% after Tesla's billionaire chief, Elon Musk, said over the weekend that the cryptocurrency's prices looked"a little high," Oanda Senior Market Analyst Craig Erlam said Tuesday morning.
In a note to clients Tuesday, Wedbush Analyst Dan Ives said that"for both good and bad," Tesla shares are now"heavily tied" to bitcoin prices–a development that's driving a sell-off among cautious investors. Though he remains bullish on Tesla's stock, Ives also pins the recent losses to the firm halting sales of its lowest-priced Model Y and ongoing price cuts that have led to demand concerns among Wall Street analysts."The electric-vehicle space is in the early days of playing out," Ives said Tuesday, noting that Tesla dominates the market, which is set to grow to an estimated $5 trillion over the next decade.
destroy bitcoin's image all you want, but we'll still HODL
monicataher Companies go up and down all the time. Nothing goes up in straight line.
Calm your knockers
رئيس بريطانيا ما كان بده يخليني اجي خلص المشوار قلت له بموت في بدي اسافر بموت وين مسافر فيديو سفره لي في الفيسبوك كله يعني مش حاطين لك قلت له بدي اياها هسه كل شيء عرفت بقول لك انا ما بخونك يا زلمه كل سياره حمراء تغربوا شفت الشركه وانا قلت له والله بعيد عنك وفي مستندات بس
nothing to do with Bitcoin, it's a healthy correction MACD was too extended, now it is normalized again
Update? Also not clicking but can you have the “Idiot” that wrote this take a stats class at a community college so she can learn correlation doesn’t imply causation. Thx.
It's not a loss until you sell, because then you lose that amount of Bitcoin. Whoever wrote this can barely put 2&2 together.
Will be back bigger and stronger no worries
How many times are you gonna post the same clickbait nonesense?
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Why the wanky useless as shit “”journalism”” ?
Fake news from Forbes? Shame!!! Forbes Shames!!!
Fuck you Forbes. Haters always.
BlockchainCad 🚗 🍆
btc will hit 60k
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What’s it have to do with investing in bitcoin.
All these haters in the comments lol. Forbes is paid by Wall Street. They are the sell outs. Crypto will take over, he’s just the first of the major company’s to move into the right direction.
🤦♂️ who is making this articles? Kids?
Don't worry , he did invest with Tesla , created a bump of the value and short it afterward , so he got pocket money!!!
It’s getting boring. Better news please.
Thats what elonmusk did with his twitt so he could buy more cheap Bitcoin !!
And, there was a rush...with a flush. 😁
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Love how suit media is blaming btc
Where is the catch ?
UMujoe
I told Elon Bitcoin is only valued $1 for each one . After 10 years , there is Zero value on it . Such a waste of Electricity
Forbes instead has lost all their readers publishing BS like this xDDD
So has elonmusk slipped again from being the richest person in the world?
Hey forbes are you going to be as prompt reporting Tesla gains in 6months time? Society is painting a picture in color, rather than mainstream black and white. Change your strokes, because you might burn down w the tower on fire.
Aren’t they up 750 billion since the buy though?
tokenizedtweets 0x12D0F38D06834D32f7d2BFB2Ee94F4926B4D1bB7
Seriously. Lmfao
Elon will make mad profit from bitcoin.
In retrospect, Karma is inevitable
Unrelated
Oh Mehn💔😪
That’s what happens when you sell out on your values! Bitcoin is an environmental disaster
Welcome to the community, new Bitcoiners. Make sure you follow lisaMakT She understand Bitcoin and have an unflinching optimism about it. She is for transparency and trust 💯 “Everything is good for Bitcoin.”
Cue to 7 days from now where you post that Tesla has doubled their value.
You can’t fold your hands and wait for opportunities to come your way. You have to work hard and invest to create opportunities.all thanks to Terri Ijeoma investor_terri for introducing me to bitcoin mining and trading investment.
AlohaCharisma omg
Greed happened. Pure unsaturated greed.
Watch it tomorrow it’s gonna fly
But it’s still made money off its investment in Bitcoin... markets fluctuate. It’s all a paper loss no big deal
just wait