If you have money in the SP500, you own Tesla stock
Title. It occurred to me that despite not wanting to support musk or some other American businesses because of their recent change in policies, I'm still holding a stake in those companies.
A lot of their direct competition is not in the S&P 500 because they are not American companies. Hyundai, Volkswagen, Toyota, Nissan, BYD, etc. American automakers let the EV market languish so long that they are only now becoming legitimate competitors in that space
Well to buy Luigicoin, its really simple: You go to a 50501 Protest, you give in your community, you join a community network, and you try to reduce your business with Amazon and other companies helping Trump.
It's an overvalued meme stonk pushed by Tim Urban's 2015 Musk propaganda pieces and WSB, supercharged by Twitter Muskapades during the very strange COVID-induced market wildfires.
The price is fueled by retail gambling, with the cult of personality and [false] idealism of the company lending it stamina that finally seems to be ailing.
So you're saying a price-to-earnings ratio of ~90x over the last five years is a reasonable valuation.. when their competitors are historically closer to... 6x?
If you'd like to hold a large cap blend that doesn't include Tesla, you might like VTV (Vanguard Large Cap Value ETF). I didn't see Tesla listed in it and I really doubt it's any of the 339 companies it holds.
Edit: I just traded all my retirement shares of VTI for VTV. Fuck Tesla. And Facebook. And Amazon.
I’m going to have to disagree with you there. I might have agreed with you during the last American presidency, but at this point Tesla is a catalyst for fascism.
If this bothers you, you can short an amount equivalent to your index fund’s holding. But you’d have to track and maintain parity against the proportional allocation of the index fund as Tesla’s market cap changed and you invested more into the index.
I’m not sure that works. I was under the impression that shorts were fixed-term contracts and the index funds holdings are longs.
You can’t “borrow” somebody’s long and sell it and then just… not return it. You are also (IIRC) paying a premium to be able to borrow the stock to sell.
American is kind of a central point for the market. Sure there are plenty of non American exchanges but if you want to do business with the "big boys" it is in New York.