Investing in Bitcoin's stock price plummeted, Tesla's "high bubble" was squeezed

's stock price plummeted continuously

As of 16:00 on February 25, Tesla's stock price was US$682.22 per share, a drop of more than 8%. Tesla's stock price fell sharply for a week. This is the biggest drop since the close of 10.34% on September 23, 2020.

On February 22, Tesla's stock price closed down by 8.55%. As Tesla's stock price fell, Musk lost 15.2 billion US dollars in personal wealth that day and lost his position as the world's richest man.

"Tesla's stock price has fallen following the recent substantial adjustments in the technology sector in the US stock market. On the one hand, it is affected by the market conditions. On the other hand, Tesla continued to pull up and squeeze in the previous cycle in the long-short game. As a result, the rate of increase is too fast and too large, and there is a relatively obvious inflated bubble in itself." Toon Capital Chairman Shen Meng told Zhongche.com.

It is understood that US stock investors have launched large technology stocks in the past week, flooding into cyclical stocks. As of the close, the Nasdaq index fell 3.52%, of which, Apple, Google, Amazon, Microsoft, Intel and other American technology leaders collectively suffered setbacks.

Tesla's "high bubble" is not surprising. Just a week before Tesla's share price fell, Tesla's short position in stock made a profit of $3.5 billion. In 2020, the market value of Tesla soared from US$88 billion to US$800 billion, surpassing the combined market value of the seven major automakers such as Toyota and Volkswagen.

In addition, Tesla's stock price plummeted or linked to Bitcoin. "Tesla's recent stock decline is also related to the operation of investing in Bitcoin." Ren Wanfu, an automotive analyst, told Zhongche.com. On February 8, Tesla purchased $1.5 billion in bitcoins for the purpose of further diversification or maximizing the company's cash returns. The decline of Bitcoin is also quite alarming. On February 23, the price of Bitcoin fell below $50,000, and the price once dropped.

is not optimistic about the future

In 2020, Tesla will deliver approximately 499,500 vehicles worldwide, an increase of 36% year-on-year. The financial report shows thatIn 2020, Tesla achieved full-year profit for the first time, with a net profit of 721 million US dollars. However, some analysis pointed out that 1.6 billion US dollars of this came from the sale of carbon emission credits to other automakers.

A few days ago, BMW Group Chairman Ziptzer publicly stated that Tesla's dominance in electric vehicles will soon end. It said that "the entire automotive industry is accelerating its transformation, and traditional car companies are actively launching more electric car products. It is not easy for Tesla to continue to maintain this speed."

Currently, Weilai, Xiaopeng, Ideal, The sales of new car manufacturers such as Weimar have increased, and they are gradually on the right track. In addition, traditional car companies and technology companies have cooperated to build cars. SAIC Motor and Alibaba teamed up to build high-end smart pure electric vehicles; on January 19, Weimar and Baidu Apollo jointly developed a new pure electric SUV model-Weimar W6 mass production; January 11, 2021, Geely Cooperated with Baidu to develop a pure electric architecture based on Geely's research and development-SEA Hero Intelligent Evolution Experience Architecture.