Week 4: Elon Musk’s Tower of Terror

I sure hope Dave Ramsey’s mantra applies to me. I made a bit of an impulsive decision last week and now I have that terrible feeling you get when you’re on the Tower of Terror at Disneyland. I just hate that ride.

I’ve been watching the stock market closely since June, and Tesla has always fascinated me. I even got a chance to ride in one for the first time recently and WOW!

Elon Musk is a tricky character. There are things about him that I really look up to as an entrepreneur. Can there just be a rule though…. no more Twitter. Please.

Last month, Tesla made its way almost to $400 per share after Musk announced he was taking the company private with “funding already secured.”

An immediate backlash from Tesla “shorters” came. I imagine this was actually quite funny to Musk. People who are avidly betting against him are mad when he made a tweet that improved his company’s stock value. I know it’s more complicated than that, but at the root of it… there you have it. If I owned a publicly traded company I would also want to stick it to those people betting against me. No one likes the guy at the Roulette table who’s betting on zero. That jerk.

Anyway, from there we’ve seen a downfall that’s been a top headline every day on Wall Street.

I finally felt that the stock had gotten to a sale price worthy of a buy. And what happened after I bought. It went up! And up! And then way way way down.

Standing by my original sentiment, I do still feel that I will end up earning on this investment, but has my level of confidence gone down?! Oh yes, exponentially. It’s pretty defeating to see the beating just this one stock alone is doing to my whole portfolio. Ouch ouch ouch.

Most conservative financial gurus out there wouldn’t recommend investing in Tesla, and I knew that going into it. But sometimes you just gotta spin the wheel yourself and see what comes. Anything but zero would be great. It’s not like I put my life savings into this investment. It’s more of a hobby than anything, and it’s been thrilling to watch the back and forth on the news. It’s one of the best reality shows on going on right now, and I love Bachelor In Paradise.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s