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 that’s 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 isn’t 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 stock’s addition to the S&P 500 Index.
But whatever the case, the shares have surged more than 60% in just the past 10 days.
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.
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.
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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