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Crypto Potato 2025-03-24 12:17:00

Tesla’s Troubles Deepen as Reddit Traders Bet on Stock’s Further Decline

Tesla’s Troubles Deepen as Reddit Traders Bet on Stock’s Further Decline

There has been a growing trend on the subreddit called ‘ElonMuskHate,’ where a group of users is reportedly attempting to short Tesla’s stock. According to a tweet by financial data platform ‘Unusual Whales,’ these traders are purchasing $100 puts for June 20, 2025, which signals their belief that Tesla’s stock will continue to drop in the coming months. The post also noted that smaller traders are beginning to follow this move, driven by the momentum from the subreddit’s posts . Tesla Troubles This activity comes at a time when Tesla’s stock has faced a significant downturn. Data reveals that the figure has dropped by almost 50% from its peak in December 2024. While Elon Musk previously warned short-sellers of the consequences they would face when Tesla’s self-driving tech and Optimus robots became mainstream, the market has instead turned against the company. Tesla’s stock, which was once expected to soar, now sits at around $248 per share. This has created a wave of profit for the very short-sellers Musk had warned, with them reportedly making $16.2 billion in profits in the past quarter alone. Tesla’s struggles can be attributed to increased competition from Chinese EV makers like the Shenzhen-based BYD, which has introduced an advanced charging system that eclipses Tesla’s, as well as shifting market sentiments. Gerber Calls for Leadership Change Additionally, Trump, along with Musk’s leadership of the Department of Government Efficiency (DOGE), has initiated significant federal workforce reductions aimed at streamlining government operations and reducing spending. This initiative has led to widespread layoffs across various agencies, sparking legal challenges and public protests concerned about impacts on essential public services. Despite Tesla’s technological edge, the ongoing leadership controversies, coupled with Musk’s focus on X, have created significant challenges for the company. Critics, including long-time Tesla investor Ross Gerber, are calling for a change in leadership while citing Musk’s divisive public image and its negative impact on Tesla’s reputation. In a statement to Sky News, Gerber said, “There’s no question (Musk) has been committed to his job at the government, that’s where he’s spending his time. He is not running Tesla. I think Tesla needs a new CEO. The business has been neglected for too long.” Consumer sentiment is also affected, with some opting for competitors like European EV brands, particularly after negative publicity surrounding Musk’s involvement in US policies and his controversial comments. The post Tesla’s Troubles Deepen as Reddit Traders Bet on Stock’s Further Decline appeared first on CryptoPotato .

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