Trading Insights
Musk Twitter Poll Says He Should Step Down — Tesla Whale Makes Big Call
“Should I step down as head of Twitter? I will abide by the results of this poll.” — The result: Yes. Below: Discover how Tesla bulls feel about this new development.
2022 has not been kind to shares of Tesla.
In particular, the last three months have been especially arduous, with shares of the leading EV company down more than 50%.
In large part, this has been due to growing investor concerns that Musk now has too much on his plate.
“Elon Musk stepping down from Twitter would be bullish for Tesla, according to Loup’s Gene Munster“
Above, two of Tesla’s biggest bulls, Gene Munster and Gary Black.
The complaints aren’t unfounded. Reports have shown that Musk has even gone as far as sleeping at Twitter headquarters.
Musk’s leadership at Twitter and some of the choices he has made have led to widespread criticism and even boycotts of the Tesla brand, in particular from people who lean left-of-center politically. This, despite the fact that Tesla’s mission is closely aligned with that of climate activists — a group that is largely left-leaning.
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Past: Musk Twitter Polls
Musk has consistently branded himself as a “free speech absolutist” — frequently relying on (and abiding by) the results of Twitter polls in his decision making.
These aren’t Musk’s only Twitter polls, but they’re soon not to matter — IF Musk continues to abide by the results of his Twitter polls.
Present: “Should I step down as head of Twitter? I will abide by the results of this poll.”
After over 17 million votes, the result are in — most people believe Musk should step down as the CEO of Twitter. It’s easy to see why people might select this option. Tesla holders would love nothing more than for the main headwind of the world’s largest EV company to be completely eliminated overnight. For many, this would represent a steep discount, considering that Tesla is currently trading at a two-year low.
And of course, for some of his political views, his immense wealth, and his opposition against the practice of banning certain conservative voices on the platform — Elon Musk has essentially become public enemy number one from passionate left-leaning U.S. voters. It’s clear that they would also vote the “yes” option.
Lastly, it makes sense that Musk wouldn’t mind giving himself an “out” here. It’s already hard enough to be the CEO of a big tech company. Musk has been caught in the public eye of many-a politician, senator, and activist. Despite Musk literally sleeping at the Twitter headquarters, and spending a colossal level of effort in his CEO-hood, Musk has been the victim of consistent, public backlash from Twitter staff.
Perhaps, this is the answer that Musk had hoped for all along.
Future? Unusual Options Activity in Tesla
This brings us to the big bet made on the result of this poll, identified by Market Rebellion’s Unusual Options Activity service. Today, one Tesla bull made a massive bullish trade in Tesla weekly call options expiring 12/23/2022.
These calls haven’t made much of a move in either direction yet, with shares of Tesla currently trading near flat on the 1D at the time of writing (-0.05%). However, if Musk follows through with the results of his poll, shares of Tesla are almost certain to rally. At least, that’s what this buyer is betting on.
Want to see the exact options and trade alert behind the big Tesla buying? Check out unusual options activity today.
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