I wonder if Tim Walz's knows the State of Minnesota owns 1.8 million shares of Tesla stock?

[Paul158]

He recently gloated that he has an app on his phone that tracks the Tesla stock. He gloated that he loves to watch Tesla stock go down, down, down. It makes his day. So, if it goes down 20 dollars, Minnesota loses 36 million dollars.

[Offthemat]

Critical thinking is not one of his finer suits.

[fishbane]

Nor is it particularly evident in this thread. Tesla is an overvalued meme stock.  It losing value is the market function as it should.

The state of MN does not directly own any Tesla Stock.  The holdings they are referring to is that of the MN State employees pension fund.  Even that does not directly own any Tesla Stock.  It owns index and mutual funds that own Tesla Stock.  The Tesla Stock that was quoted in absolute terms in the OP are less than 2% of the holdings in these funds and less than 1% of the overall pension fund.  Many people who buy index funds would never purchase Tesla stock directly because they see it as an overvalued meme stock that is headed to $0 long term. Gov Waltz's positions are less than 1% contradictory here.

[Scouts Honor]

so in other words, b/c they don't own it directly, it makes timmy smart.

no.

their pensions are affected by the stock going down.

[Paul158]

12 minutes ago, Scouts Honor said:

so in other words, b/c they don't own it directly, it makes timmy smart.

no.

their pensions are affected by the stock going down.

Precisely. Simply put.

[1032004]

1 hour ago, fishbane said:

Nor is it particularly evident in this thread. Tesla is an overvalued meme stock.  It losing value is the market function as it should.

The state of MN does not directly own any Tesla Stock.  The holdings they are referring to is that of the MN State employees pension fund.  Even that does not directly own any Tesla Stock.  It owns index and mutual funds that own Tesla Stock.  The Tesla Stock that was quoted in absolute terms in the OP are less than 2% of the holdings in these funds and less than 1% of the overall pension fund.  Many people who buy index funds would never purchase Tesla stock directly because they see it as an overvalued meme stock that is headed to $0 long term. Gov Waltz's positions are less than 1% contradictory here.

$0?  Why?

[red viking]

This is the dumbest thread ever. A state pension fund is always gonna be diversified and may have shares of every large corporation in the country. They probably have a lot of shares in other auto manufacturers too, so if we can destroy Tesla, the stock of the other auto makers will be stronger. Net result is probably a wash. 

Edited yesterday at 12:08 AM by red viking

[fishbane]

42 minutes ago, 1032004 said:

$0?  Why?

"The overwhelming focus is on solving full self-driving. That’s essential. It’s really the difference between Tesla being worth a lot of money or worth basically zero." Elon Musk June 2022.

Anyone that has this opinion and thinks Tesla is far from solving FSD could think this.  Exactly $0 is unlikely it could be slightly positive or negative.

 

[fishbane]

5 hours ago, Scouts Honor said:

so in other words, b/c they don't own it directly, it makes timmy smart.

no.

their pensions are affected by the stock going down.

Lol barely and that's the point.  I'm not sure it says much one way or the other about Walz, but it means the fund managers were smart.  The idea behind buying the index fund is so that retirements are NOT affected by the performance of one company, but rather the index as a whole.  

The reality is that the stock was over valued.  The money Minnesota employees "lost" from the pension fund never existed in the first place. If you are looking for someone to clown on here might I suggest the foolish people that were buying shares of a car company with $25B in annual car sales at valuations over $1T?