The official lounge stock market & investment advice thread

[siablo14]

Market is taking a crapper...I'm so glad I liquidated.

Should be temporary unless there is a solid reason for this.

[siablo14]

Market is taking a crapper...I'm so glad I liquidated.

Oh I see. Worries about inflation which may lead to the Fed tighten up.

[jaded]

Oh I see. Worries about inflation which may lead to the Fed tighten up.

10 year yield hovering at 1.7% also. TSX took a hit as well. Lots of warning signs...I prefer to be on the sidelines watching for now the next drop. When the index funds look safer I'll move on a short term buy.

[PACnPBFsuck]

I'm buying Enron stocks #ToTheMoon

[jaded]

Hold on to your hat...

Bitcoin Tumbles After Musk Implies Tesla May Sell Cryptocurrency

https://ca.finance.yahoo.com/news/mu...192401769.html

(Bloomberg) -- Elon Musk continued to whipsaw the price of Bitcoin, briefly sending it to the lowest since February after implying in a Twitter exchange Sunday that Tesla Inc. may sell or has sold its cryptocurrency holdings.

Bitcoin slid below $45,000 for the first time in almost three months after the billionaire owner of the electric-car maker seemed to agree with a Twitter post that said Tesla should divest what at one point was a $1.5 billion stake in the largest cryptocurrency. It traded at $45,270 as of 5:51 p.m. in New York, down about $4,000 from where it ended Friday.

[GrandpaBernard]

Hold on to your hat...

Bitcoin Tumbles After Musk Implies Tesla May Sell Cryptocurrency

https://ca.finance.yahoo.com/news/mu...192401769.html

(Bloomberg) -- Elon Musk continued to whipsaw the price of Bitcoin, briefly sending it to the lowest since February after implying in a Twitter exchange Sunday that Tesla Inc. may sell or has sold its cryptocurrency holdings.

Bitcoin slid below $45,000 for the first time in almost three months after the billionaire owner of the electric-car maker seemed to agree with a Twitter post that said Tesla should divest what at one point was a $1.5 billion stake in the largest cryptocurrency. It traded at $45,270 as of 5:51 p.m. in New York, down about $4,000 from where it ended Friday.

time to buy more crypto

[jaded]

time to buy more crypto

Well if you did I doubt you are happy about it because in between the time you posted and now it lost another $4K. It dropped more than 10% in the last 1/2 day. Trading @ less than $43,500 at the moment.

[ShoulderRoll]

Did Musk just do a pump and dump?

[jaded]

Did Musk just do a pump and dump?

The small investor never really understands how the manipulation is being played by the billionaires and usually are the ones to get hurt without even knowing who's behind the pump and dump. The truth is that Tesla car sales are not really that great. Tesla's first quarter profits came from selling regulatory credits & Bitcoin.

https://www.businessinsider.com/tesl...on-musk-2021-4

Tesla made $101 million — the equivalent of nearly a quarter of its profits — by selling a 10% stake from its bitcoin holdings in late March, CFO Zach Kirkhorn said. Since the carmaker first revealed it had bought $1.5 billion worth of bitcoin in February, the cryptocurrency has continued to climb to unprecedented heights and is up about 60% since Tesla's first disclosure.

Tesla also earned $518 million by selling regulatory credits to fellow automakers. That figure alone accounts for almost all of Tesla's $533 million pre-tax income during the three-month period from January through March.

[Robbie Barrett]

Did Musk just do a pump and dump?

He's stocking up on bitcoin now. Next month he'll say Tesla will now accept it.