10,000 Day Traders an Hour Are Buying Tesla Shares

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Thread: 10,000 Day Traders an Hour Are Buying Tesla Shares

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    10,000 Day Traders an Hour Are Buying Tesla Shares

    bloomberg.com
    July 13, 2020

    Almost 40,000 Robinhood users bought the stock in four hours
    Tesla shares surged 16% Monday before giving up gains

    At one point Monday, there was a four-hour span in which Tesla stock was added to almost 40,000 Robinhood accounts, according to website Robintrack.net, which compiles data on the investing platform thatís much beloved by millennials.

    The frenzy in interest means there are now roughly 447,000 users on the Robinhood app that hold shares of the electric-car maker in some form. That makes it the 11th-most popular stock on the platform, ahead of even Amazon.com Inc., which is held by 356,000 users.

    It isnít at all clear that day traders are the main driver for the nosebleed rally in Tesla shares over the past few weeks. Indeed, there are myriad other possibilities, from the potential reveal of a new battery technology, to short covering, to conjecture over the possibility for the stockís addition to the S&P 500 Index.

    But whatever the case, the shares have surged more than 60% in just the past 10 days.








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    Re: 10,000 Day Traders an Hour Are Buying Tesla Shares

    8,415 posts on this site in 16 years, and I have never used an emoji. Until now.











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    Re: 10,000 Day Traders an Hour Are Buying Tesla Shares

    Quote Originally Posted by Perian View Post
    8,415 posts on this site in 16 years, and I have never used an emoji. Until now.











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    Re: 10,000 Day Traders an Hour Are Buying Tesla Shares

    Quote Originally Posted by Perian View Post
    8,415 posts on this site in 16 years, and I have never used an emoji. Until now.











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    Re: 10,000 Day Traders an Hour Are Buying Tesla Shares

    I hope for the economy's sake this share does not crash and burn

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    Re: 10,000 Day Traders an Hour Are Buying Tesla Shares

    This is from another thread, I posted on July 2nd, these were rounded numbers, but you get the point.

    Quote Originally Posted by Ed753 View Post
    Yup, appears to be "working" flawlessly, and completely logically, but I digress ........................

    $F = $6.00
    $GM = $25.00
    $TSLA = $1,200
    July 13th intra-day highs, and percentage higher/lower than July 2nd.

    $F = $6.22 (+3.67%)
    $GM = $25.19 (+0.76%)
    $TSLA = $1,794.99 (+49.6%)


    I found this interesting regarding RH stats; top 10 daily increases of holders today, this is just users trading on the RH platform:

    1. $TSLA: +48,547
    2. $EVRI: +18,091
    3. $AAPL: +13,145
    4. $AMZN: +12,982
    5. $NFLX: +12,480
    6. $NIO: +11,838
    7. $SPAQ: +8,625
    8. $EQ: +8,031
    9. $UAVS: +7,700
    10. $PFE: +6,838
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    Re: 10,000 Day Traders an Hour Are Buying Tesla Shares

    Sounds like a chance to take up Musk on his challenge of a short opportunity
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    Re: 10,000 Day Traders an Hour Are Buying Tesla Shares

    Quote Originally Posted by NHRATA01 View Post
    Sounds like a chance to take up Musk on his challenge of a short opportunity
    Did you say Tesla Shorts? Yup, they sell them; $69.420 a pair; hot.

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    Re: 10,000 Day Traders an Hour Are Buying Tesla Shares

    About mid 2022 there will be a big Tesla share price crash coming, as they start to get dethroned by Ford as the No1 EV automaker watch this space, when at long last we get the first ever decent EV to be released from Detroit.




    Was kinda of hoping GM the sleeping giant would one day wake up kick Tesla arse with something special maybe RWD Chevy a new RWD Impala EV thats gone back to it's roots, With better software than Tesla under the hood & million mile batteries, to show the world what sleeping giant General Motor is really capable of, but l dont hold out much hope.
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    Re: 10,000 Day Traders an Hour Are Buying Tesla Shares

    Quote Originally Posted by mbukukanyau View Post
    I hope for the economy's sake this share does not crash and burn
    Seems like a lot of desperate people throwing money at TSLA like its a winging slot machine. That's a recipe for a bubble.

    I've been wondering for while if these new trading platforms are a new gateway to stock manipulation/fraud.....
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    Re: 10,000 Day Traders an Hour Are Buying Tesla Shares

    The reports of Robinhood "investors" plowing money into stocks via this app [and others] are, to me, the equivalent of Joe Kennedy having a shoe shine boy give him stock tips in the '20s.

    He immediately cashed out of his holdings and escaped the stock market crash.

    I have stopped adding anything to this dumpster fire.

    This will not end well

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    Re: 10,000 Day Traders an Hour Are Buying Tesla Shares

    Quote Originally Posted by Citation84 View Post
    The reports of Robinhood "investors" plowing money into stocks via this app [and others] are, to me, the equivalent of Joe Kennedy having a shoe shine boy give him stock tips in the '20s.

    He immediately cashed out of his holdings and escaped the stock market crash.

    I have stopped adding anything to this dumpster fire.

    This will not end well
    I saw an ad by schwab recently that was frightening. They were offering 5 dollar slices of the S&P I think it was. So anyone could get in with fractional shares. Yep, crash is near. Actually I blame the fed. Interest rates should not be zero.

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    Re: 10,000 Day Traders an Hour Are Buying Tesla Shares

    Quote Originally Posted by NHRATA01 View Post
    Sounds like a chance to take up Musk on his challenge of a short opportunity
    Never short a company that is not trading on metrics. If someone is buying it is not because of reason.

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    Re: 10,000 Day Traders an Hour Are Buying Tesla Shares

    Quote Originally Posted by Vagon11 View Post
    I saw an ad by schwab recently that was frightening. They were offering 5 dollar slices of the S&P I think it was. So anyone could get in with fractional shares. Yep, crash is near. Actually I blame the fed. Interest rates should not be zero.
    Rather than blame interest rates blame the $3T in asset purchases. They plowed more money into the bond and equities markets in 2 months this year than the entire multi-year efforts of their QE/twist/etc policies during the Great Recession.
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    Re: 10,000 Day Traders an Hour Are Buying Tesla Shares

    Quote Originally Posted by NHRATA01 View Post
    Rather than blame interest rates blame the $3T in asset purchases. They plowed more money into the bond and equities markets in 2 months this year than the entire multi-year efforts of their QE/twist/etc policies during the Great Recession.
    I don't disagree, so I'm good with blaming both actions by the fed. The fed has eliminated any return from safe interest income and made the market more appealing by injecting cash. I will not be surprised if we see a depression that rivals the 29 one.

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