‘Watch out Tesla believers’: Critics are piling on to warn the 300% stock rally will crash and burn

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  • Tesla shares have soared 300% in six months, hitting an all-time high of over $900 on Tuesday.
  • Investors, analysts, and politicians are warning investors the rally won’t last.
  • “I have no doubt it will end in tears for many people,” one investor said.
  • Visit Business Insider’s homepage for more stories.

Tesla shares have surged about 300% in the past six months, hitting an all-time high of over $900 on Tuesday. Traders, analysts, and politicians are lining up to warn investors that the run up won’t last.

“This is obviously a computer-generated rally, it’s not a reflection on the company, or on valuation. It’s just a trade,” Andrew Left, the activist short seller behind Citron Research, told MarketWatch this week.

“Yes, I’m shorting it … whoever bought it at these prices has to flush it out, and when it flushes, it’s going to flush hard,” he added.

Left’s comments came after Citron blasted the stock rally as unsustainable.

“We believe even Elon would short the stock here if he was a fund manager,” the equity-research publisher tweeted on Tuesday. “This is no longer about the technology, it has become the new Wall St casino.”

Others have warned Tesla’s rally will hurt those left holding the stock when the music stops.

“This is an incredibly dangerous place to be buying the stock and I have no doubt it will end in tears for many people,” trader and analyst Jani Ziedins wrote in a recent post on his Cracked Market blog.

“Owning a stock that’s tripled over the last few months is great, but don’t mistake serendipity for skill,” he continued. “While the fools are spending all of their time daydreaming about what they will buy when the stock breaks $1,200, smart money is selling their stock to those greedy dreamers.”

Matt Maley, chief market strategist at Miller Tabak, echoed those sentiments in a CNBC interview this week.

“This is taking Tesla well above a level that would be supported by its current fundamentals,” he said. “The stock is going to get absolutely clobbered at some point before long.”

Even former presidential candidate Ralph Nader sounded the alarm, warning Tesla could take down the entire stock market.

“When the stock market bubble implodes, it will have been started by the surge in Tesla shares beyond speculative zeal,” he tweeted.

“Watch out Tesla believers,” he added in a follow-up tweet.

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MISSING BOY: Church deserted, family reveals how General Overseer lives in prison

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AdeyanjuBy Dayo Johnson, Akure

ALL the branches of Sotitobire Miracle Centre across Ondo State have been deserted after the razing of its headquarters and the General Overseer, Prophet Babatunde Alfa, remanded at the Olokuta Correctional Centre, Akure after one-year-old Gold Kolawole went missing at the headquarters branch over a month ago.

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Uncertainty reigned over the church.

Reports said members may have been ‘defecting’ to other churches as the General Overseer spent Christmas and the New Year day in prison.

Many of the members with church stickers on their vehicles and bands on their wrists, it was learnt, have been removing them.

Irate youths had set the headquarters branch ablaze and went further to burn down the Ajipowo branch same day to show their displeasure over the missing boy’s case.

The development forced the police to deploy to the razed churches and the private residence of the clergyman after it was equally attacked and several vehicles damaged.

While the Department of State Service, DSS, which arrested Alfa, took the glory for doing something over the missing boy’s case, the police, which was accused of foot-dragging, arraigned 13 suspected arsonists in court in connection with the razed churches.

Prison walk

Then the DSS, in a surprise move, arraigned the clergyman in the Magistrate Court.

The court was jam-packed on arraignment day as members of the church trooped out to give their prophet moral support.

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Their hope that Alfa would be granted bail was, however, dashed.

Even the prophet, who was expecting that he would be released on bail, burst into tears as Magistrate Charity Adeyanju ordered that he be remanded in prison custody.

His church members also could not hold their tears as they wept profusely seeing their prophet being pushed into the Black Maria by prison wardens.

It was a pitiable sight as the church members and the clergyman wept like a baby.

While arraigning the General Overseer and six children teachers of Sotitobire Miracle Centre in court, the DSS accused them of conspiracy to kidnap and aiding kidnapping of Gold during a Sunday service at the headquarters of the church in Oshinle area of the state capital on November 10.

The six children teachers are Omodara Olayinka, Margaret Oyebola, Grace Ogunjobi, Egunjobi Motunrayo, Esther Kayode and Peter Anjorin.

Peter Anjorin was separately accused by the prosecutor of destroying evidence by secretly taking away evidence that would have aided speedy investigation of the missing child.

The charge against anjorin read, “That on the 10th day of December 2019 at about 2:00 pm at the premises of the Department of State Service, Alagbaka, Akure, Ondo State in the Akure Magisterial District, you did destroy evidence by secretly taking away vital evidence that would have aided speedy investigation in respect of the missing child (Gold Eninlaloluwa Kolawole) and thereby committed an offence contrary to and punishable under Section 123 of Criminal Code, Cap 37, Vol. I Laws of Ondo State 2006.”

The accused persons were brought to the court by operatives of the DSS around 9am in a white bus marked AKR – 54-AM.

The prosecutor, Joseph Dada, said the offence was contrary to and punishable under Section 5(i) of the Ondo State Anti-Kidnapping and Anti-Abduction Law, 2010 as well as under Section 516 of Criminal Code, Cap 37, Volume I Laws of Ondo State 2006.

The charge sheet for all the suspects read, “That you Prophet Alfa Babatunde ’m’, Omodara Olayinka ’f’, Margaret Oyebola ‘f’, Grace Ogunjobi ‘f’, Egunjobi Motunrayo ’f’, Esther Kayode ’f’, Peter Anjorin ‘m’ and others now at large, on the 10th day of November 2019 at about 11:45 am at Sotitobire Praising Chapel, No. 48, Solagbade Street, Oshinle Quarters, Akure, Ondo State in the Akure Magisterial District, did conspire together to commit felony to wit: Kidnapping, and thereby committed an offence contrary to and punishable under Section 516 of Criminal Code, Cap 37, Vol. I Laws of Ondo State 2006″.

Trial Magistrate Adeyanju, after listening to the arguments of the prosecutor and counsel to the defendants, Olusola Oke, ruled that she did not have the jurisdiction to try the alleged offences.

She then said that the accused persons be remanded in prison custody pending the conclusion of investigation and arraignment at the High Court and adjourned the case till January 17, 2020.

Recall that the mother of the missing boy, Modupe Kolawole, had taken him to the church while looking for miracle but ended up losing him to suspected kidnappers.

Modupe said she dropped the son at the church children section only to come back to discover that he had disappeared without trace since November 10.

Speaking after the court session, Oke said, “The prosecution presented two contradictory positions. There was an application filed where they alleged that the General Overseer confessed to the allegation of kidnapping.

“We challenged them to present the evidence of his confession but they did not bring something like that to court.

“Also, contrary to what we heard in the public domain about kidnapping, they were charged with conspiracy and aiding kidnapping. These are two different situations because if he actually kidnapped, it would be brought to the public that he kidnapped but apparently they have nothing against him.

“We believe that if the man indeed is culpable, he should be punished. But at the same time, there is no need to crucify somebody who has done no wrong.”

Also, 13 suspected persons were ordered to be remanded at the Olokuta Correctional Center by an Akure Magistrate’s Court for their alleged involvement in the killing of a policeman and the razing of Sotitobire Miracle Centre.

They were arraigned on six count charges of murder, arson, theft and vandalism.

The prosecutor, ASP Moses Adeosun, prayed that the defendants be remanded in prison pending investigation into the matter.

Ooni intervention

In a related development, the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, and his Olori, Naomi, are reported to have waded into the case of the missing boy.

The mother of the boy confirmed this to Sunday Vanguard.

“It is true that the Kabiyesi, the Ooni of Ife, and the wife invited us to the palace in lfe”, Modupe Kolawole said.

“We briefed the Kabiyesi and the Olori on how the incident happened over a month ago. “They sympathized with us and promised to get back to us”.

Hunger strike

Meanwhile, family sources said the embattled clergyman has turned the Olokuta Correctional Centre to a crusade ground and reportedly winning souls for Christ in the prison.

The sources said Alfa organised programmes for the prison inmates during Christmas and New Year day, thereby leading many of them to Christ.

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They denied a report that the prophet took ill following alleged hunger strike.

The post MISSING BOY: Church deserted, family reveals how General Overseer lives in prison appeared first on Vanguard News.

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Senator Dino Melaye joins Nollywood | P.M. News

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Dino Melaye

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Senator Dino Melaye joined Nollywood just few hours after the Appeal Court affirmed the decision of the Kogi Election Petition Tribunal nullifying his victory.

The outspoken senator will be featured as one of the key actors, in a Television series titled ‘Equity unbound,” an idea of the Pillars of Hope African Initiative (POHAI).

Other prominent actors including Linc Edochie, Victor Decke, Chief Bruno Iwuola and Paul Sambo will also be featured in the TV series.

Addressing a world press conference, the Country Director of POHAI, Chinyere Onyemekara, said the main focus of the project is on ‘equal rights and sociai justices in Africa,’ using Nigeria as a case study.

“Equity unbound TV series is a soap opera that holistically ex-ray the quality of justice system in Nigeria and its attendant effect on both the masses, the elites and the government.

“It is a mind-blowing expository drama presentation of the human rights challenges of an ordinary common Nigerian. A good example of the issues treated in this series is the recent report by BBC, on the pervasive threat of “sax for grades and sex for Marks” in Nigeria’s institutions of learning.

“A 120mins pilot episode of Equity unbound TV series has been shot with so many celebrity Actors and with state of the art equipment cum professionais and highly motivated crew.

“The idea of this is to use drama as an effective tool of communication to correct the ills and promote an acceptable social justice system in Nigeria.

“Gentlemen of the press, you will agree that Africa and Nigeria in particular is far behind in terms of perfect justice system and equitable society.

“We at POHAI has taken it upon ourselves to expose these shortcomings for the purpose of strategic attention and correction:

“We hereby call on members of the fourth estate of the realm, civil society groups, the international community, cooperate organizations, Nigerian government at all levels and well-meaning Nigerians to support in whatever way possible to bring this humanitarian project to fruition,” Onyemekara stated.

Speaking on why he joined the drama, Senator Dino Melaye, expressed happiness to be part of the series that will expose unjust act in the society.

Melaye said: “I’m happy to have participated in the series, especially as it will help correct social problems in the country. I am not a greenhorn in acting because I emerged as the best actor during my NYSC program.

“I am ready to serve this country in any capacity and I feel that participating in the series is another way of contributing my quota in correcting the social ills in Nigeria.

“If I have such opportunity again I won’t hesitate to take it,” Melaye stated.

The drama’s director said that Senator Dino Melaye acted the role of Joshua in the series, which is an assemblage of professional actors and politicians.

“The drama is all about tackling social vices in the society. The drama, he said captures such issues like corruption, injustice, bad governance and so on.”

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Melaye makes Nollywood debut in ‘Equity Unbound’ – TheCable Lifestyle

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Dino Melaye, embattled lawmaker representing Kogi west senatorial district, has made his Nollywood debut in ‘Equity Unbound’, a television series, alongside other prominent actors. 

The Kogi-born politician and senator was on Friday unveiled as lead character of the film, hours after

Melaye is expected to feature alongside Dan Nwanyanwu, the national chairman of the Zenith Labour Party (ZLP), and other notable Nollywood actors like Bruno Iwuoha, Linc Edochie, Victor Decke, Paul Sambo in the series.

‘Equity Unbound’ is an idea of the Pillars of Hope African Initiative (POHAI).

Speaking about the project, Chinyere Onyemekara, the country director of POHAI, said the main focus of the movie is on “equal rights and social justices in Africa”, using Nigeria as a case study.

#Dinotheactor unperturbed by today’s Appeal Court Ruling, @dino_melaye attends the unveiling of Equity Unbound, a movie series he starred in.#BuhariWedding #PresidentialWedding #dinomelaye #FridayMotivation pic.twitter.com/csntArlpfy

— ofimkofim (@ofimkelechiofim) October 11, 2019

“Equity unbound TV series is a soap opera that holistically ex-ray the quality of justice system in Nigeria and its attendant effect on both the masses, the elites and the government,” she said.

“It is a mind blowing expository drama presentation of the human rights challenges of an ordinary common Nigerian. A good example of the issues treated in this series is the recent report by BBC, on the pervasive threat of “sax for grades and sex for Marks” in Nigeria’s institutions of learning.

“A 120mins pilot episode of Equity unbound TV series has been shot with so many celebrity Actors and with state of the art equipment cum professionais and highly motivated crew.

“The idea of this, is to use drama as an effective tool of communication to correct the ills and promote an acceptable social justice system in Nigeria.

“Gentlemen of the press, you will agree that Africa and Nigeria in particular is far behind in terms of perfect justice system and equitable society.

“We at POHAI has taken it upon ourselves to expose these shortcomings for the purpose of strategic attention and correction:

“We hereby call on members of the fourth estate of the realm, civil society groups, the international community, cooperate organizations, Nigerian government at all levels and well-meaning Nigerians to support in whatever way possible to bring this humanitarian project to fruition.”

On his part, Melaye said he was elated to be part of a project that would expose unjust act in the society.

“I’m happy to have participated in the series, especially as it will help correct social problems in the country. I am not a greenhorn in acting because I emerged as the best actor during my NYSC program,” he said.

“I am ready to serve this country in any capacity and I feel that participating in the series is another way of contributing my quota in correcting the social ills in Nigeria.

“If I have such opportunity again I won’t hesitate to take it.”

In the 120-minute TV series, the legislator is expected to assume the role of Joshua, which is an assemblage of professional actors and politicians.

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