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I think the March 24 jump was directly caused by stuff Trump said about Tesla and the protesters being terrorists.
The stock market casino, where the value of a company is based on someone making a comment about things unrelated to how the company operates.
But the comments do matter?
The stock market traded on speculation of future value, not current value. If tesla increases profit by $1M , their market cap doesnt increase by $1M. It increases or decreases by the speculative future value.
If protestors are going to be prosecuted, the perceived value of the company increases because theyre will be less negative press.
It also leads to, "what else is the president going to do to help musk's company? " and that list is endless, and speculation runs wild.
The stock market traded on speculation of future value, not current value.
That's what makes it a casino, because the future speculation isn't based on anything tangible, just feelings that can be swayed by a single sentence and you never know what will actually happen. You can play the odds, and there are mostly consistent average changes, but individual stocks/bets are completely random and unpredictable.