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As Reuters reports, Fidelity Investments and T. Rowe Price Group - two of the largest investors in Tesla - disclosed in their quarterly filings tonight that they each cut their stakes in the electric automaker by more than 20%.

Additionally, Bloomberg notes that Susquehanna exited almost all of their 1.266 million shares.

My note: the following is a comment from one of the ZH readers.

"All the institutional investors are trimming slowly, but surely and continuously I assume. On every bounce, they sell bigger chunks. Who knows which bounce will be the last one. Jedi power is fading. The biggest distraction in the history of the company caused only a 2-day rally, then just evaporated? Tesla become too hot, and the Jedi mind trick trying to distract the public from production/sales numbers, cash positions, solvency, debt payments etc., is turning against Musk, it seems. He made a mistake: he put a cap on the value of the stock. It’s like a theoretical stop loss for shorts... the risk reward turned on its head. People thought this stock would be worth $5k one day, or so. Now the best scenario is $70+ from here, max. And Musk needs to be really lucky to achieve that. The downside risk became visible?

I think the only one Jedi trick left: Musk resigning as a CEO, “for the sake of the company”, while staying there as a production manager, or smthng. Short-lived bounce in the stock maybe, but then... with a new, “boring” CEO (who cannot distract the public so easily) the talk about cashflow and debt would just really begin.

the brand itself wouldn’t die. I think it is really worth something. About $20 / share is a fair value. $100 in 10 years, if it can show at least 8 years of consecutive profitable year-end GAAP profits, only if debt is decreasing at the same time."
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