I told my friend to sell his Tesla shares and he stopped speaking to me. I was trying to do him a favor. Was I wrong?
Elon Musk told shareholders on Thursday to hold onto their stock, even as sales of the electric vehicles are falling. I have or had a friend who owned two Teslas, and had his entire stock in Tesla. He is a Democrat and he claims to be a nihilist. I don't see how one can identify as a nihilist and also try to save the environment. In any case, I had been trying to get him to diversify his retirement portfolio.I told him, "If you are able, I think you should get out of Tesla. It's not that the company won't be able to recover - it might - but considering everything else, why would anyone stay vested in Tesla?