I think more and more people are cancelling M3 order. Any thought?
Canceling my reservation wont get me the car faster. But those who have no patience will surely ensure the hastened delivery of mine.
I don't think any investor would call this a bear market, this is a long overdue and welcomed (to many at least) correction of an overheated market. Sure, some might cancel because of it, but some might cancel because they stubbed their toe last Tuesday. *shrug*
I haven’t seen anyone cancelling. There have been a couple of forum members threatening to but I have no way to know if they ever had a reservation to begin with. Though from their generally negative attitude toward Tesla it would be reasonable to guess they never intended to buy one.
I think more and more people are reserving Model 3. Any thoughts?
Probably a lot of $#0R+S taking the exit ramp today. Expect more favorable reviews from usual suspects.
The macroeconomic conditions currently in place point this to be a correction as opposed to anything bearish. Most knew it wouldn't take much to launch a correction but it's a little nefarious that a slight bump in interest rates has caused the current drop. It appears that investors were looking for an excuse and stumbled upon one. We'll be fine.
If someone cancels their Model 3 reservation because of this correction, they have no business handling any more money than is necessary to navigate the McDonald's drive-through.
What's I'd give to have edit capabilities on submitted posts. I can actually put a coherent thought together, though it would be tough to believe that from my previous missive.
Trump will attempt to recharge markets with a load of coal. I think more and more people are smoking legal marijuana today. Any thoughts?
@LostInTx, you could ask 5 owners to perform a coordinated "Flag as Inappropriate" on your post to make it disappear :)
Plus, I had no trouble comprehending it, so no worries.
I think shorts are desperate enough to start threads here composed of pure FUD.
LostInTx said: "...I can actually put a coherent thought together, though it would be tough to believe that from my previous missive"
I'm not sure what that says about my comprehension skills because I didn't even notice.
Speaking of comprehension, I had no idea from the title what this post is about until reading your answer and others. So the question was, will people cancel their reservation because the stock market cut a fart?
That's cancel their reservation? Not sell their TSLA shares?
Personally, I've had it with Musk and his overblown predictions, his Solar City shenanigans, and that ridiculous PowerWall home battery sham.
I'm canceling my reservation tonight, and then immediately ordering my Residential Clean Coal Electricity Generator kit . . . .
As it happens I am in possession of one very slightly used but fully guaranteed RClCEG kit.
Would you believe It is state of the art and guaranteed no polluting elements?
Would you believe just a very slight effect of acid rain?
How about a used Weber BBQ, an old car generator and a beat up hamster cage?
When I thought i heard on the news 4% down I thought that must be wrong, brought my phone up on CNBC, saw 1000 points down at about 3:50 and laughed out loud.
I have been waiting for this for months. I was long while waiting for it and will remain long. I never knew when it would happen or by how much so never did a thing with my investments and I do not plan on doing a thing. Just watch and laugh at those worrying.
Agree with @Shock. Just laugh and don't do a thing. Those algorithm traders WANT you to react.
I think the problem facing reservation holders is further delays for non owners which looks like June or beyond, the federal tax credit starting to go down in % probably next month with the S and X selling and owners getting their 2/3 tax credit and lastly the beginning of auto loan increases which all can hurt all reservation holders. I think a lot of holders are waiting in the standard model but I bet that model won’t release to non owners u til Q4.
Too bad that this forum doesnt allow people to post polls that tabulate totals. It would be interesting to see the results if people clicked on a button next to what ever applied:
I configured and ordered a car with LR and PUP
I got email and am delaying ordering since I want:
short range battery
I am still waiting to configure and want:
Just got my deliver estimator. Changed to 5 month delay.
@dcap can you explain ?
Im sure most people who have their eyes on the M3, are waiting for production to actually ramp up, and are simply waiting for more details. Its as if Tesla is holding back information, and it wouldnt surprise me if people are not interested in reserving yet. Once production ramps up, and more details are released (Tesla rideshare and such), there will be reservations pouring in.
@Dcap - "... the federal tax credit starting to go down in % probably next month with the S and X selling and owners getting their 2/3 tax credit ..."
There is so much wrong with everything you just said .... The tax credit will not be going down next month. The credit will remain at the full $7,500 until the end of the quarter after they sell the 200,000th car. Most people expect that to be sometime in Q2 now, so the full credit will remain in effect until the end of September of this year. I don't even know what you could possible mean with the "2/3 tax credit" part so I won't even try.
On the other hand, income tax rates are going down a few percent. Thanks Trump.
"The tax credit will not be going down next month. The credit will remain at the full $7,500 until the end of the quarter after they sell the 200,000th car."
Someone made a good point about this. We don't really know exactly how many cars Tesla has sold in the US and when. So if the 200,000th car was sold in December (not likely IMO) then the tax credit would be going down after next month.
We may not know when Tesla hits that number until months later.
If you, Joe Average, over react, panic and pull out investments, the rich will get richer by buying on the dips.
How about everyone just take a deep breath and remember that this correction, and almost all ups and downs of the market, are temporary and inevitable. My 401k being down today alone by more than my first year salary at this job doesn't mean squat.
@Carl Thompson, you're right we may not. With that being said I do not recall seeing any estimate that put them selling 200,000 prior to the end of 2017. Even more importantly, I'd strongly like to believe that, given the financial implications for their customers, Tesla will announce when they do sell the 200,000th car.
I'm not rich, but I will most definitely keep buying the dips :)
"My 401k being down today alone by more than my first year salary at this job doesn't mean squat."
Disagree. It means you have a lot more in your 401k than I do. I only lost, last night, a few months income from my very first job ;)
A couple of years ago such a 'correction' happened, only about a week later in the month. TSLA closed at $151.04 on February 12, 2016. Today it had a LOW of $323.50 and closed at $333.97, a whole $0.84 higher than yesterday. ~*yawn*~
well if you want your stock to recover, just send one of your cars into space, works like a charm.
I am guessing PhillyGal lost another first year of salary today :)
It is normal correction on the market (well overdue indeed), the reason it exists to make dumb ones to run for the exit door, those will be parted from nice chunk of gains and book losses as they will miss reentry point as usual.
I put in a sell order for half my Tesla holdings at 350 the other day when the price was 345 figuring the earnings call might drive the price down but that it might still have upward potential if fans bought up more thinking the results would exceed market estimates .This way if it went down I could buy more and if it went up, I would still have a profit. Except the stock didnt go up to 350 so I never sold it. Now Im down half a model 3 in week.
Welcome to the casino.
@Tesla2018 Options have expiration dates, so it is harder to wait it over. Hey, but more leverage. I think NVDA has better BS story to sell to investors vs. Elon's fading M3 production saga. AI is catchy and video games looks very convincing to many gullible investors to imagine NVDA has some kind of edge there. Hey, whatever works, peace!
@Tesla2018 Sorry, I thought you were talking about options put order, but you meant limit sell order, so no big deal, just wait it out.
@Tesla2018, I was on the opposite side of your coin then. I had a limit buy order in at $180 when it went back down near there last year. I wasn't watching it close enough. It got down to $180.54 so it didn't trigger my buy order. Right after that it zoomed right up to near $350. Sure missed out on that turn around. But I haven't done bad in the past with TSLA (it got us our Model S), so I might get back in here soon.
Easiest way to get rich is stop spending money on things you dont need.
Now i am going to spend the next rest of the year convincing myself i NEED the model 3.