Recording summary · December 2020
Tesla S&P 500 inclusion - CRAZY DAY ON THE STOCK MARKET
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Overview
Daniel invested approximately $5,000 to purchase 12.7 Tesla shares at $407 each prior to the S&P 500 inclusion announcement, watching the value rise above $8,000 amid volatile Friday trading driven by index fund purchases.
During Friday's trading, Tesla stock fell from roughly $672–$673 to a low of $632 before rebounding to around $680 and $695 post-close, prompting Daniel to set and cancel a triggered sell order, followed by a failed sell attempt at market close.
Daniel weighed taking profits against holding long-term, noting past trading losses caused by lacking patience after selling recovering stocks, while also considering buying more shares if the price dips below $600.
Daniel also tracked other holdings as Palantir traded flat near $26 and LCA experienced price declines following the postponement of its merger vote to December 29 due to insufficient votes.
Themes
Tesla stock volatility and S&P 500 inclusion trading.
Daniel's trading strategy and decision-making regarding Tesla holdings.
Monitoring Palantir and LCA stock performance.
Developments
Daniel purchased 12.7 Tesla shares at $407 each prior to the S&P 500 inclusion announcement.
Daniel placed and subsequently canceled a triggered sell order for Tesla shares.
Daniel submitted a sell order for Tesla shares that lagged and was rejected as the market closed.
The LCA merger vote was postponed to December 29 due to an inadequate number of votes.
Uncertainties & gaps
Daniel suspected the displayed Tesla stock price of $695 was an error or glitch.
Daniel remained undecided whether to sell Tesla shares on Monday, hold long-term, or buy more shares if prices decline.
Daniel was uncertain about the future direction of Tesla stock, guessing it could hit $700 or $750 before pulling back to the $600 range.
Daniel lacked confidence concerning LCA and remained undecided on whether to sell or hold the shares the following week.