Josh Wolfe @wolfejosh VC, entrepreneur, fund manager @Lux_Capital; Chair @CiPrep Coney Island Prep; Trustee @SfiScience Santa Fe Inst; CoFounder of Carson, Quinn & Bodhi w/ @ltwolfe May. 01, 2019 1 min read

AGAIN: The people dumping shares in Tesla are not short-sellers (short interest lower than usual)— but large institutional holders + Tesla Board of Directors members.

The people buying the shares are Robin Hood account retail millennials.

Supporting data

As of January 2015, 80% of the firm's customers belonged to the demographic "millennials" (people b/w ages 18 + 29) and the avg customer age was 26.[23] Fifty percent of users who have made a trade use the app daily and 90% come back to the app weekly

Fidelity selling out of Tesla.
Now TRowe. Cutting position by a little bit —81%
Retail is buying...

As Tesla gets sold off by institutional investors—Robinhood retail accounts are getting left holding the bag.

The institutions know this—but it is not their responsibility.

You can follow @wolfejosh.


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