Tesla in Trouble? Market Reacts to Trump

Don’t count out the Champ just yet...

November 14, 2024

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Good evening! Jeff Bishop here.

The markets closed slightly down today, I think largely based on the news that Trump’s team wants to kill the $7,500 consumer tax credit for EV purchases as part of its tax reform legislation.

The news hit RIVN especially hard. The stock was finally having an up month but is now down 12% on the day. 

Much more significantly, TSLA also took a dive, closing the day down around 5% and threatening to sink it below its freshly acquired $1 trillion market cap.

I confess to enjoying the EV tax credit when I bought my Tesla, but it really is BS for the government to subsidize an industry to that extent.

And even Elon Musk agrees with me. In July, he posted on X, “Take away the subsidies. It will only help Tesla.”

I truly believe that Tesla will end up a victor from any subsidies.  Don’t count them out.  Elon and Trump are now BFF’s 💋

He added, “Also, remove subsidies from all industries!”

You have to appreciate a man of principle.

I was pleased to see that the “tactical trade” stock I wrote to you about this morning avoided the broader market fallout.

It didn’t have the major move I was hoping for, but if you caught my dispatch before the market opened, you got to see this:

See this morning’s email for the ticker!

(yes, up another 11% in after-hours tonight!)

Not bad for a day’s work — especially on a down market day.

For now, I’m turning my attention to another little stock that I wrote to you about back in early September.

It’s up 8% since that time, which is pretty good, but what really interests me is a monster rally it had at the beginning of this month when it ripped 30% higher in a week.

It has pulled back a bit since then (though it’s still well above where it started the month), and that’s why I think it’s the perfect time to take a good look at it.

This is a much bigger company than I usually nominate for my “tactical” ideas — it’s worth about a quarter billion $ — but it’s a fascinating company with plenty of news out since I last wrote to you about it.

I’m going live with my full breakdown of this situation on this webpage at 9 AM EST — sharp!

Bookmark that page then visit it right at that time so you don’t miss a minute of the action.

To Your Success,

Jeff Bishop

People on my early access list got this idea that jumped 10%+  before the market opened today!

If you are not on that list, all you need to do is whip out your phone and text the word  “RAGE” to 1- (888) 404-5747 📲

Then, you can be at the top of the list when I have a hot new idea that drops (like tomorrow!)

 

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