Nobody wants to buy stocks that are down ~70% YTD. Everyone wants $DRUG, $MSTR & soon any miners after they explode. It’s strange how the mind works. FOMO.
Everyone piles in because Bitcoin is now going to the moon! /s
Anyway.
Earlier this year $TSLA was going to rock everyone’s world with the highly anticipated Robotaxi reveal. We see how that went. The event seemed rushed and many important details that investors and Tesla enthusiasts wanted were kept quiet.
Well guess what. The future is still very bright for FSD, ADAS, whatever the fuck you wanna call it. Cars that drive themself.
So,
Mobileye is down 70% this year. Why? Because they’re headquarters are in Israel for starters. Secondly, they reduced forward guidance on their last quarterly earnings due to the shit show going on in China.
What has happened since then?
Iran and Israel are still in their little weiner match.
China has been throwing out money left and right via stimulus.
31% of Mobileye’s revenue comes from China. Dont you think they should see some relief from the stimulus as Baba, JD, NIO, and every other Chinese stock did?
Why hasn’t Intel sold any shares even though the were in trouble earlier this year?
Why did the CEO spend $10,000,000 on shares in August?
Why the fuck is short interest at 17% on a company with an actual product producing actual profit?
I have been buying this month every week, but understand that this stock won’t appeal to many until it’s back up to $18-20 at which point shirts will begin to cover and sell their shares back to the ones who FOMO in around $30-$40.
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