| PROSPERITY PUB MARKET TALK
Musk's Chip Diversion—Strategic Move or Power Play?
Elon Musk recently admitted to diverting a shipment of Nvidia AI chips meant for Tesla (TSLA) to his other companies, xAI and social media platform X (formerly Twitter), claiming the chips would have otherwise sat idle in a warehouse.
On the surface, this may seem like a practical decision, but there are questions about his true intentions.
Musk is currently entangled in a battle with Tesla shareholders over his pay package. Could this chip diversion be part of a larger strategy to leverage control over Tesla’s resources?
Some speculate that the often unpredictable CEO might be holding these valuable AI chips as a form of ransom, seeking greater influence and ownership within the company.… or maybe just the release of the billions in pay that he feels he’s owed.
Amid these maneuvers, Tesla’s stock has been fluctuating between $170 and $180, following a significant spike of 43% after a dismal earnings report in April. This volatility adds another layer of uncertainty for investors.
The situation raises important questions about Musk’s leadership and priorities.
Is he making decisions that benefit Tesla and its shareholders, or is he using his position to advance his interests in other ventures?
Only time will tell, but for now, the controversy surrounding Musk’s actions continues to fuel debate among investors and industry watchers.
Tesla Stock
Meanwhile, our own Jeffry Turnmire has a long term bullish view on TSLA.
His long term downside target proved right, as the stock bounced at its ultimate 138.80 low just before earnings in April.
He went on to say that if TSLA can work through significant resistance at the 200 level, he sees long term targets as high as $350 and even $500 in the cards for the car maker.
— The Prosperity Pub Team
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