written by reader Tesla Nickel Deal with Vale

By jackslade, March 4, 2021

Just saw this and would have expected more resulting VALE price action but maybe I’m missing something?

https://www.benzinga.com/news/21/03/20013408/tesla-secures-long-term-supply-of-nickel-for-ev-batteries

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englishprofessor
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englishprofessor
March 6, 2021 10:40 pm
Reply to  jackslade

I’ve read conflicting coverage. Either way, you’d expect that any ticker tied to Tesla would have a huge run up, rumor or real. I think it was just a bad time for this kind of news. Anyone who’d gotten in on Piedmont Lithium (PLL) prior to battery day saw colossal gains post-Battery Day when Tesla announced their supplier deal with them, but that was at the height of Tesla hype. Even though Musk has stressed the necessity of Tesla’s need for clean nickel, we’re in that sort of bimonthly cycle when half the collective mind of retail traders decides to become iconoclasts and hate Tesla. We’re in the bash-Tesla part of the cycle. More importantly, this week was devastating for so many traders , market being down and all. The market has spoiled us on the retail/Robinhood end. (I senses the allure of all things Tesla was wearing off when word got around of the potential partnership with H2O Innovation (HTOFF) and the price action did little else but shiver a few times. I’ll tell you what folks are talking /speculating about (I’m on RobinHood, WeBull, Reddit, StockTwits, and I’m in a bunch of trading groups on Discord, and I pay attention to all the chatter): speculations on the possibility of a SPAC taking Boring Company public; speculation about SpaceX and StarLink tricking everyone and going through a SPAC, and everyone is tweaking on eVTOL and space-related companies/SPACs. I’m beginning to think that the space/air mobility sector has diverted people’s attention away from EV (and by virtue of relation, all the mining stuff we were geeking out on over the summer). These last two weeks might have retail traders jumping back into EV because it feels safer than eVTOL, so we’ll see how it goes. Still, I was bummed not to see VALE just sitting there…. its price action like a low mumble.

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