The more growth and potentially irrational exuberance that growth stocks have enjoyed in recent times the harder they’ve been smacked, previous market darling Tesla (TSLA US) has become a huge underperformer falling 40% in a handful of weeks to actually close on Friday down 15% for the year. While we can see a decent bounce in the coming weeks I feel TSLA’s going to struggle to breach $US900 in 2021 which reminds me of other high beta market candidates like Bitcoin and the local BNPL space, investors should remember our view that 2021 will be “tough for those not prepared to press their sell buttons”.
MM is bullish TSLSA for a ~15% bounce.
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