Can anybody explain to me why all automaker stocks are down several percentage points today but Tesla is up on Nikola bankruptcy news. Sure, they’ve got competing semis and the bankruptcy show that investor appetite has soured on these types of companies, but so does Volkswagen.
Disclosure: I made the terrible decision to buy OTM Tesla puts as a volatility hedge against market downturn for my calls. Calls are a small portion of my portfolio but quite high delta exposure. Tesla options are extremely expensive and the valuation and price movements make no sense to me when I look into it.