Of all the corners of the Internet that worshipped Elon Musk, none was more zealous than the one populated by the sebaceous young men over at the /wallstreetbets sub-reddit. They absolutely adored the guy, referring to him as “Papa Musk” and depending on him to make them rich before they reached the ripe old age of 25.
Well, just as the most strident anti-smokers are people who used to smoke but quit, likewise the young lads populating WSB absolutely despise Elon Musk, since they feel so betrayed by him. More specifically, since TSLA has lost three-quarters of its former trillion dollar market cap, countless Robinhood and E*TRADE accounts lay in tatters. If you visit WSB these days, you’ll find the vast majority of front page content is nothing more than some form of Tesla-bashing or Elon-raging. I offer to you a sampling:
I have long held that an important medium-term bottom for Tesla will be just under $100 (let’s call it $98 or so). This target is coming up, and coupled with the absolutely rage-pit that WSB has become, I’d offer the utterly contrarian opinion that TSLA is getting close to bouncing very hard.
Don’t get me wrong. My long-term bottom is closer to $30, but I think that’s a ways off.
