Today I'm going to write about the stock market. While watching CNBC this morning, I heard an interesting stat: the Dow Jones peaked on January 26, and has been trading below that level ever since. January 26 also happens to be my birthday, so that kind of makes me feel bad. People have lost a lot of money ever since my birthday. Although, I think it has more to do with the pending trade war between the U.S. and China than it does the day I was born. Also, historically, people trade less during the summer because a lot of people are on vacation. Once everyone returns and Q3 begins, I think the market will recover nicely.
Tesla, as you all know, is my favorite stock. There were some bad headlines over the weekend, as Elon Musk reportedly asked the company's suppliers to lower their prices so that Tesla could become profitable. This news did not sit well with investors, and Tesla is down almost 3% today. Again, just like I said in my Expert Article: this is a buying opportunity. Asking suppliers to lower their prices is very typical in the automotive industry and does not warrant any type of overreaction. However, Tesla is obviously the media's favorite company to write bad things about, and they hopped on the opportunity to publish something negative about the company. I will be purchasing a few more shares of Tesla on this news... wish me luck!
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