Tesla Up 80% Since July 1st

On July 1^st, Tesla stock was trading at 1006.

Yesterday, it opened up 250 points (+16%) from last Friday’s close reaching 1,794.99 only to see it end up closing at 1,497.06, losing 297.93 points from its high.

Here’s what’s interesting, in eight trading days Tesla stock is up +78.4%.

Why?

Quite honestly, I don’t know.

It’s not as if the CoronaFraud has helped car sales – unlike Amazon whose business has skyrocket from more people buying from the internet thinking they’re heroes by their self-imprisonment.

Seriously, the phenomenal rise in Tesla has recently made FElon Musk the 5^th richest man in the world.

Huh?  Based on what?

Ironically (or NOT) Tesla is still burning money – your taxpayer funded dollars – faster than the Burn Loot and Murder/Antifa clowns are burning cities in America.

The question here should be, is history about to repeat?

For those of you old enough to remember the crash in March of 2000 (the Tech Wreck), you’ll recall that the tech stocks were on a tear to the upside.  So much so that they rose an additional 30% in January/February 2000 alone.

From that point on it was a nose-bleed drop with techies leading the way down.

Over the following two years, the NASDAQ lost over 65% of its value.  11 years later, owners of the NASDAQ finally broke even in 2013.

Ironically (or NOT) if you bought the low in 2002 you would’ve seen over seven times the return on your investment.

Of course, very few, if any, bought the low and held on for the last 18 years.

The point is, anytime you get high flying tech stocks making triple digit swings up AND DOWN on the same day, it’s a warning sign we may be seeing a Blow off Top in the markets.  (See Blow off Tops in our Annoying Acronyms Column HERE)

In order to understand where this is all headed you must Listen to the Markets.

If you’re hard of hearing and need help, read our Hotter Than July newsletter.