Barstool Sports activities founder Dave Portnoy has introduced that he invested $10 million in Tesla inventory (NASDAQ: TSLA), aiming to revenue from a fast rebound amid the continued sell-off.
On the time of his buy, Tesla shares have been displaying weak point, buying and selling at $293.76 and down 6.85% on the day.
Portnoy described his strategy as shopping for the dip, with plans to show the steep sell-off right into a $1 million revenue in a few weeks, in line with his submit on X on July 7.
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His transfer comes as Tesla’s inventory has been underneath sustained stress from a number of headwinds. In March, he publicly questioned Tesla CEO Elon Musk’s capacity to guide the corporate successfully whereas taking up political roles.
The investor stated he was “entitled to ask” whether or not Musk may run Tesla whereas concurrently attempting to chop prices within the U.S. authorities as head of the Division of Authorities Effectivity (DOGE).
Tesla’s rising bearish sentiments
Notably, the newest Tesla sell-off has been fueled by Musk’s high-profile political actions, together with his endorsement of Trump in July 2024 and his service within the administration, which he exited in Could.
On July 5, 2025, sentiment round TSLA inventory deteriorated additional after Musk introduced plans to kind a brand new “America Celebration,” which spooked traders and contributed to a different slide on Monday.
This transfer additionally raised questions amongst Wall Road analysts who anticipated him to focus absolutely on operating the corporate.
Certainly, Musk’s renewed political curiosity has been pushed by his criticism of the “Large Stunning Invoice,” which is projected to lift the U.S. debt burden.
On the similar time, the invoice’s provision to get rid of the $7,500 federal EV tax credit score additionally threatens the profitability of American electrical car corporations.
In the meantime, Tesla’s gross sales efficiency has declined considerably. Within the second quarter of 2025, deliveries fell 11% year-over-year to 394,380 autos, after a 13% decline within the first quarter. Demand in Europe dropped sharply, with steep gross sales declines in markets corresponding to France, Germany, and Norway.
Featured picture through Shutterstock
