Does MM like Tesla (TSLA US) after its pullback?
James, What are your thoughts on buying Tesla at this point?
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Answer
Hi Arthur,
Tesla’s a volatile beast at the best of times before we even take in account the regular vagaries of founder Elon Musk, the stocks both doubled and halved a number of times over the last 2-years making it a very high Beta or trading stock depending on the level of risk sought.
At this stage even though it’s halved since November, and we’re looking for a short-term period of outperformance from tech stocks, MM hasn’t got Tesla on its radar as another test under $US600 feels a strong possibility for this largely sentiment driven stock i.e. every time it looks / feels like a buy its probably a sell!
