25% gain taking puts on Tesla from the unfavourable news over the weekend. ⚠️ Trading tips: Looking at puts under 250 and calls above 256.8 on Tuesday. More clues coming up from Thu's CPI and Fri's PPI readings.
Reason #1
When one Twitter user warned that Zuckerberg had legitimate jiu-jitsu skills, Musk responded, saying he would fight the Meta CEO in a cage. Later that day, Zuckerberg said he would be up for an MMA-style fight against Musk.
On Sunday, Musk said that the fight with Zuckerberg will be streamed on X, and that all proceeds will go to a charity for veterans, according to a post on the platform. Zuckerberg said in a post on Threads on Sunday that he had proposed Aug. 26 as the date for the match, but Musk had not confirmed. “Not holding my breath,” Zuckerberg wrote.
The two billionaires have been taking digs at one another online since Meta launched its new text-based social media site Threads, which many have touted as an alternative to X.
On Sunday night, Musk said he may require surgery and is planning to receive an MRI on his neck and upper back, according to a post on X, the social media platform formerly known as Twitter.
Musk, who in addition to Tesla also holds senior leadership roles at X, SpaceX and Neuralink, added that he will know more surgery details this week.
For real? Age matters! 😂
Reason #2
Tesla Chief Financial Officer Zach Kirkhorn has stepped down after more than four years in the role, where he worked behind the scenes to translate Elon Musk's ambitions into reality.
The electric-car maker on Monday said Chief Accounting Officer Vaibhav Taneja had been appointed as CFO on Aug. 4, when the 38-year-old Kirkhorn left the position.
His surprise move comes ahead of Tesla's Cybertruck pickup coming to market later this year and raises questions about succession planning for Musk, who is 52 years old and runs several companies, including SpaceX and X, the social- media platform formerly known as Twitter.
Tesla has no clear second-in-command, but board members had discussed Kirkhorn as a possible successor to Musk as CEO, The Wall Street Journal reported in May.
Trend is your friend
Reason #3:
By using the Fibonacci retracement tool, we can identify that 250 is a strong magnet to draw the share price lower. Ever since their earnings call in July, share price has dived steeply as the market loves to sell the news on Tesla without fail. If one follows Tesla long enough, it's wise to buy the rumour leading to earnings with Elon's pump and then sell it just before their reporting.
Shares were down around 2% in early-afternoon trading towards 242.76 but soon recovered by 1% at the close on Monday at 251.45.
Can the share price drop lower in August? You know the answer. Don't get married to a stock, trade the volatility instead.
Trade #1
Trade #2
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