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what's going on everyone my name is Jeff so I made this video guys I know Tesla is at a very very attractive buy point here at 210 dollars a share seen a lot of people talking about you know first thing Monday morning how they are planning to buy Tesla here at these levels should you wake up tomorrow morning and buy the stock at 210 or should we wait off a little longer any support level that Tesla has has been pushed through time and time again it is in complete freefall mode and last week guys especially the last couple days of the end of the week a lot of things really really piled up on Tesla fast and unfortunately I do not think the pain is over yet and like I said guys I currently have a hold rating on Tesla but I still want this for the long run okay so whoever hits the rock-bottom on Tesla I applaud you but unfortunately guys patella is trading back under its 2014 levels in May of 2014 Tesla was trading at 207 dollars a share and now in May of 2019 it is at 210 and it looks poised to fall further so do me a favor guys Tesla stock shed $23 a share in four days guys and I think a lot of it stems from this this is an article I've had slipped by a lot of people and really do want to bring it to your attention is that so tiro price sold more than 80% of its Tesla shares during this year's quarter one guys they were holding 1.7 million shares as of March 31st first 8.9 at the end of 2018 course tiro price being one of the biggest institutional investors in Tesla and so with a big sell-off this actually leaves t rowe price holding the smallest number of Tesla shares since 2013 after ramping up its holding late last year even as the stock dropped following Elon Musk's funding secured tweet and so as they step back from it has continued to pump money into potential competitors in the race to develop ant animus vehicles including an equity investment in GM's crews driverless car units so that is really something to keep an eye on I knew this was going to kind of be a residual effect is that now pretty much every auto manufacturer is working to produce Anton amiss vehicles and so naturally some investment money is going to be spread around and Tesla cannot be viewed as the sole electric car company any longer and then just one day later Tesla's senior director of communications Dave Arnold is going to be leaving the company after a two-year stint and he took over the high-profile top communications job last July from Sarah O'Brien now the communications job at Tesla is considered particularly important due to the e V automakers lack of traditional advertising okay so again guys this is something that probably didn't directly affect the stock price but I find this something that if not replaced carefully and competently could continue to hurt the market share and their market cap over a period of time so when I said it was a rough week for Tesla guys I was not kidding at all okay so the very next day after that on the 17th this is when Tesla dropped over 6% and tumbled to fresh two year lows after Elon Musk emailed employees to alert that he and CFO Zach Kirk horn would scrutinize all expenses as part of a hardcore cost-cutting effort so musk said that Tesla's 2.2 billion dollar cash reserve is a lot of money but actually only gives us about 10 months at the first quarter burn rate to achieve break-even so he mentioned small efficiency improvements such as better packing density or rearranging process flow to a fewer forklift moves can have a great impact if everyone works on it now this is a real red flag if you are heavily invested into Tesla I would spend a great deal of time just asking yourself a couple of big questions here I think we can all pretty much unanimously come to the understanding that the next earnings report is going to be once again very very disappointing and now they are burning through their cash reserves at a very fast pace and even when I read this statement guys this sounds very desperate okay and so if you are very very heavy into Tesla stock you might want to think about selling off a large portion of it and allocating those funds to stocks that are better set up in the meantime again do as you must I just want to issue fair warning I think it is going to get much much worse in the short term so now let's talk specifically about the stop for a moment guys Tesla has lost sixty one dollars of share value which is equivalent to twenty two point seven eight percent over the past month okay now do not be alarmed if tomorrow in premarket Tesla is actually trading under $200 a share again I'm not saying to totally expect that market conditions might be up but I think if we do see any strong declines during this week I think there is no doubt in my mind that Tesla traits under $200 a share I would love to sit here and think that $200 share is a great level of support and a lot of institutional buying will jump in and push that stock price back up and we very well could see a bounce tomorrow like I said the same as we saw here back shortly after they reported earnings Tesla dropped a two hundred and thirty two dollars a share and it did bounce up a little bit in the short term ticked back down to around 232 on May first and then got itself back up to 250 dollars a share so there was an opportunity for a small swing trade in there but what you have to understand is that the shorts and the put options are going to come in hot and heavy on those bounces and in the matter of two and a half weeks lost an additional $44 per share so in my opinion I think you should hold off guys I think Tesla is going to be under $200 a share and I think we should all probably get back together and take another look and kind of see where things are at when it's around 180 to a hundred and ninety dollars a share I was to put my money on either side of this guys you probably have an eat pretty easy short sale down to 190 bucks but anyways go down to the comments guys share your thoughts I would really love to hear what you all are thinking about Tesla here at 210 thanks as always for watching the video and have an awesome day
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