‘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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NOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the ‘3rd wave’ firms that are leading the next round of tech disruption

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Nigerian Youths Should Choose Life, Not Death — Emmanuel Onwubiko

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Statistically, the global authority on health issues known as the World Health Organization (WHO) has released a highly frightening but realistic rate of suicides committed by members of the global humanity per annum. It says that close to 800 000 people die due to suicide every year, which is one person every 40 seconds.

Suicide the World Health Organisation observed succinctly, is a global phenomenon and occurs throughout the lifespan.

It reckons that effective and evidence-based interventions can be implemented at population, sub-population and individual levels to prevent suicide and suicide attempts. There are indications that for each adult who died by suicide there may have been more than 20 others attempting suicide.

Suicide occurs throughout the lifespan and is the second leading cause of death among 15-29-year-olds globally.

Suicide is a global phenomenon; in fact, 79% of suicides occurred in low- and middle-income countries in 2016. Suicide accounted for 1.4% of all deaths worldwide, making it the 18th leading cause of death in 2016, so says the global agency on health matters also known as World Health organization in its website just visited by this writer.

I must state that although the fact remains that suicide is a worldwide trend, but for us in Nigeria just like in other African nations, the death of someone is a huge loss not just to the immediate family but to the society and the nation at large. Given the African set up of the typical family tree, members of a given family belong to both the nuclear and the extended family units. So the matter of suicidal demise of any member brings about phenomenal amount of sorrows to a greater percentage of people in Nigeria.

However, due to a number of factors not unrelated with psychological, emotional, financial and sociological factors, a lot of young Nigerians have fallen into the traps of suicide in the last couple of years particularly in the last one year. Around June of last year, Samuel Elias, 25, a final year student of Department of Religion and Culture, University of Nigeria Nsukka allegedly committed suicide by drinking sniper.

The mother of the deceased, Mrs. Kate Elias a staff of the university, told the News agency of Nigeria that the unfortunate incident happened on Monday June 17, around 5.30pm in her house at Justina Eze Street Nsukka.

Elias said she came back from work on that fateful day and discovered that the mood of her first child was bad and he was staggering when he came to collect a bottle of coke from the fridge

“I followed him immediately to his room and started talking to him but he could not respond and when I looked closely, I discovered that his teeth had tightened up.

“As I looked around, I saw an empty sniper bottle; at this point I raised alarm and my other children rushed to the room and we tried to give him red oil but his tightened teeth did not allow the oil to enter his mouth,” she said.

According to her, he was rushed to the hospital, where he eventually died.

“We immediately rushed him to Faith Foundation Hospital, Nsukka and were later referred to Bishop Shanahan Hospital, Nsukka, where he eventually died.

The mother of seven said her son could have died of depression, noting that he had been lamenting his inability to graduate from UNN because of his final year project, which he has been working on.

“I know two things he usually complained, his inability to graduate from UNN since 2016 because of the project that he has not finished as his classmates have all gone for their National Youth Service Corps.

“Also, how his father’s family in Ihechiowa in Arochukwu Local Government of Abia State abandoned us since their father died.

“Whenever he complained of these things, I usually advised him to trust God, who is capable of solving every problem.

“I do not know why he will go to this extent of committing suicide. I have seven children and he was my first child.

“It is still like a dream to me that my first son and first child has died,” she said in tears.

Reacting to this incident, Prof. Tagbo Ugwu, the Head of Department of Religion and Culture in UNN, said somebody called him and told him about the unfortunate incident.

“I received the news with shock and surprise.

“I will find out from his supervisor what is wrong from the project that has stopped him from graduating,” he said.

When contacted Mr Ebere Amaraizu, the Police Public Relations Office, in Enugu State, confirmed the incident and said police would investigate the circumstances surrounding the death.

“The police is aware of Samuel Elias’ death. He was a final year student of the Department of Religion and Culture in UNN, who committed suicide on Monday by drinking sniper.

“Police will investigate circumstances surrounding the death,” he said.

It would be recalled that barely five weeks after Chukwuemeka Akachi, a 400-level student of Department of English and Literary Studies in UNN ended his own life after taking a bottle of sniper. In August of last year, from the Obafemi Awolowo University (OAU), came the story that the school community was thrown into mourning mood following the death of a final year student, Opeyemi Dara. The deceased was said to be a student of Faculty of Arts, Department of English Language, who allegedly committed suicide after taking a suspected dose of lethal substance popularly known as “sniper”. News Agency of Nigeria (NAN) learnt that she allegedly took her life following her poor academic performance, although the details of the incident were still sketchy.

The media stated that the authority of the institution confirmed that the deceased committed suicide following depression occasioned by poor academic records.

Dara’s academic records obtained by a journalist who worked on the story for one of the National dailies indicated that she had five outstanding courses and 12 Special Electives.

Also the Public Relations Officer of OAU, Mr Abiodun Olanrewaju confirmed the incident and promised that the institution would investigate and make its findings public. Olarewaju appealed to students not to contemplate committing suicide because of poor academic performance.

“We sympathize with the parents and guardian of the deceased known as Dara.” We just want our students and young ones to know that depression is not a thing they should encourage, no matter the situation or circumstance they find themselves. “ Some people in the past have passed through the same situation and circumstances and came out clean. “Now, suicide can never be an option and people, especially the young ones who believe that taking their own lives is an act of gallantry should know that it is not. “We want to appeal to students, particularly OAU students to take things easy. Any child that fails; that is why the university says you can rerun a course, you can resit a course.

“People out there also face challenges and when you are in school, failure or repetition of a course or particular subject is also part of the challenges students must face. “The university will get to the root of the incident and get back to the public,” Olarewaju said. Just before this case, there was another story from Edo state.

That was precisely at the Faculty of Arts, University of Benin, UNIBEN, main campus came the heartbreaking story that a final-year student jumped from the second floor of one of the hostels and died.

The deceased male student, whose identity is still unknown as at press time, committed suicide after failing his examinations, which made him suffer depression for failure to graduate. The next case is that of a girl that reportedly took her life following a break up of a relationship and this also happened at the University of Benin like the aforementioned the deceased was a three hundred level student.

The corpse of Miss Christabell Omoremime Buoro, aged 21, a 300-level student of the department of Medical Laboratory Science, University of Benin (UNIBEN), was discovered in her hostel flat at Plot 4 Uwaifo lane, Newton street, Ekosodin area, behind the university fence, so reports the newspapers. Miss Christabell reportedly was discovered after she allegedly took some deadly substance to end her life. It was gathered that the undergraduate linked her suicide to her breakup with her boyfriend.

The media states that an empty sachet of Klin detergent was found in the spot where she took her life.

According to the source of the media information, “A small girl of that age will take her life all because of one boy. The policemen that came to evacuate the body were very angry after reading out loud the note she dropped.

“Thank God that she even dropped a note, if not the roommates would have been in hot soup, because investigation would have began from that point.”

As are with all cases of suicide, the police officers in this case situated at the Ugbowo police station have invited two person for questioning over the content of the letter.

It was rumoured that the deceased Christabel mixed the deadly insecticide, popularly called Sniper with Sprite drink, and reportedly left a suicide note where she stated that she was about taking her life because the guy she loved didn’t love her in return after her boyfriend broke up with her.

Sadly, the year 2020 has also seen another case of suicide by a youngster and in this developing story we were told that the girl stated that she was depressed and that she no longer find life attractive.

The Enugu State Police Command only at the weekend confirmed that a serving National Youth Service Corp member in Enugu State, Miss Bolufemi Princess Motunrayo, has committed suicide.

It was gathered that Miss Motunrayo, a Batch ‘C’ corps member serving in Girls Secondary School, Ibagwa-Aka, Igbo-Eze South Local Government Area of Enugu State took her life on Friday, January 10, 2020, when she allegedly drank a substance suspected to be sniper.

The Corp member hailed from Ijumu Local Government Area of Kogi State and a graduate of Banking and Finance from Prince Abubakar Audu University formally called Kogi State University was reported to have taken two bottles of snipers.

One of the media reporters who worked on this emerging story said it was learnt that she had before committing suicide dropped a short note that read, “I did this because I see nothing worth living for in this world”.

Confirming the alleged suicide is the State Police Public Relations Officer, Ebere Amaraizu, who described the incident as unfortunate.

Amaraizu, a Superintendent of Police in a text message to the Punch newspaper correspondent said, “The incident has to do with the taking of sniper insecticide by one Bolufemi Moturayo Yetunde, a female corper from Kogi State but, doing her service with Girls High School, Ibeagwa-Aka, Igboeze South L.G.A on 10/1/2020.

“She was later rushed to the hospital where the doctor confirmed her dead,” he said.

In the version written by The Guardian, one of the friends of this absolutely beautiful graduate and a serving member of the National Youth Service scheme (NYSC) raised alarm that there is need for a thorough investigation of what triggered the ‘suicide’ because in the thinking of this person, the girl who killed herslf allegedly was having a swell time and was not known to have any case of depression or loneliness.

From all these and many other stories of suicide and suspected suicides especially the cases of suicide by Students, there is a glaring evidence of a lacuna fundamentally in the administration of these tertiary institutions. These cases of students killing themselves due to frustrations attendant with their inability to successfully graduate could be tackled if these schools can set up functional mechanisms for looking into all cases related to inability or otherwise of their students to graduate. There has to be a system in place to seamlessly monitor and ensure that the process of writing and supervision of projects of students are transparent and open to such an extent that no single person should become the last hope of any strident from graduation. The schools should have a reporting mechanisms whereby cases relating to inability to pass these projects and graduate are looked into by dedicated members of staff who should play the role of arbitrators for the students. The school system in Nigeria is too commercially oriented to an extent that Students are put under intense pressure to raise money from all means possible to bribe lecturers marking their papers to enable them graduate and most of these students who can’t raise money to pay their ways are left with no option than to be sexually abused by some professionally incompetent lecturers. The University and tertiary institutions must be made to put on a human and humane face even as there has to be a system in place to give access to students to step up and dialogue with dedicated teachers who would offer counselling and also hear cases related to frustrations witnessed at any stage of their educational journeys. The school must be prepared to vote cash to cater for this sort of important human relationship Counseling mechanisms to stave off the rising cases of suicide. The school must not be all about profitability.

The Nigerian police and other relevant law enforcement agencies like NAFDAC must monitor the activities of traders who deal in chemical and drugs related products such as snipers with a view to ascertaining identities of buyers and the use to which these products would be put into. There is also the need for state governments and the Federal government to embark on deliberate but massive public enlightenment programmes to warn youngsters to choose life over death and to resolutely beat back all suicidal tendencies through the cocktails of effective means of communication and getting counseling service from toll free lines that should be publicized for all Nigerians to be conversant with.

For instance, the European Council on Human Rights has successfully repealed the death penalty because of the overwhelming rating of Right to life in Europe. In Article 2 of the European wide laws on human rights, it is legally provided that: “Everyone’s right to life shall be protected by law. This right is one of the most important of the Convention since without the right to life it is impossible to enjoy the other rights. No one shall be condemned to death penalty or executed. The abolition of death penalty is consecrated by Article 1 of Protocol No. 6.”

The Nigerian Constitution in Section 33(1) provides that “Everyone has a right to life. ”

*Emmanuel Onwubiko is the Head of the Human Rights Writers Association of Nigeria.

The post Nigerian Youths Should Choose Life, Not Death — Emmanuel Onwubiko appeared first on Information Nigeria.

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Hausa Suya Seller Flees after Stabbing Igbo customer to death in Lagos ⋆

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There was a pandemonium at Juba Alaro Junction off Liasu road in Idimu area of Lagos on Monday, November 25, as a tea vendor a.k.a Mai Shai stabbed his Igbo customer to death  over a N100 bread.

An eyewitness alleged that the deceased identified as Peter Nwala got into an argument with the tea vendor shortly after he turned up at his shop to buy fried egg, tea and bread. Peter reportedly refused paying for the bread which he claimed had a bitter taste.

The tea vendor who was angered by the deceased’s refusal to pay for the bread, reported the incident to a nearby suya seller who stabbed him with a dagger.

According to him, ‘’He paid for other food items except the bread. It was when he wanted to leave the place that the tea vendor signalled the nearby suya seller, who brought out a dagger and stabbed Peter to death. 

‘’The police have contacted the leader of the Hausa community in the community and he has promised to produce the culprit.”

A police source also  said  the deceased was stabbed by the vendor in retaliation.

He said: “The boy (deceased) was an alleged internet fraudster who had been arrested in the past by operatives of the Special Anti-Robbery Squad (SARS). He went to the tea vendor’s kiosk to buy fried egg and was said to have refused to pay the man.

‘’ He took a stick and hit the tea vendor who insisted he must pay for the food. When the tea vendor could no longer bear the brutality, he motioned to his colleague who took a knife and stabbed the boy(Nwala) in the back leading to his death a few hours later at a hospital.

‘’Friends of the deceased then launched into violent attacks on Hausa traders in the neighbourhood but we quickly deployed our men there and restored normalcy.

“However, we are still looking for those who killed the boy and the police is engaging the leadership of the Hausa community in the area to ensure that peace reign and apprehend the culprits,’’

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Tea vendor stabs customer to death over stale bread

Kunle Akinrinade

An unnamed tea vendor has stabbed one of his customers to death following a disagreement over N100 bread.

The incident happened at 10pm on Monday November 25, at Juba Alaro Junction off Liasu road in Idimu, a Lagos suburb.

The deceased, Peter Nwala had gone to the tea vendor’s kiosk to buy fried egg, tea and bread when he complained about the bread’s bad taste.

He was said to have explained to the Hausa tea vendor that he would not pay for the stale bread.

His refusal to pay for the bread, according to sources angered the vendor who reported him to a nearby suya seller, who stabbed him with a dagger.

‘’He paid for other food items except the bread. It was when he wanted to leave the place that the tea vendor signalled the nearby suya seller, who brought out a dagger and stabbed Peter to death.’’

The incident was reported to Ikotun Police Division.

Sources said police have launched a manhunt for the culprit.

‘’The police have contacted the leader of the Hausa community in the community and he has promised to produce the culprits.’’

An impeccable police source however said the deceased was stabbed by the vendor in retaliation.

‘’The boy (deceased) was an alleged internet fraudster who had been arrested in the past by operatives of the Special Anti-Robbery Squad (SARS). He went to the tea vendor’s kiosk to buy fried egg and was said to have refused to pay the man.

‘’ He took a stick and hit the tea vendor who insisted he must pay for the food. When the tea vendor could no longer bear the brutality, he motioned to his colleague who took a knife and stabbed the boy(Nwala) in the back leading to his death a few hours later at a hospital.

‘’Friends of the deceased then launched into violent attacks on Hausa traders in the neighbourhood but we quickly deployed our men there and restored normalcy. However, we are still looking for those who killed the boy and the police is engaging the leadership of the Hausa community in the area to ensure that peace reign and apprehend the culprits,’’ he added.

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Angry reactions, as death toll rises in Onitsha tragedy

3 more dead bodies found in Ochanja market

By Anayo Okoli, Vincent Ujumadu & Omeiza Ajayi

THREE more dead bodies were recovered, yesterday, at the Ochanja Market in Onitsha, which got burnt when a tanker filled with fuel caught fire at the Upper Iweka area of the commercial city.

This came as Governor Willie Obiano invited the affected traders to assemble at the Alex Ekwueme Square, Awka on Monday for documentation and possible assistance from the state government.

Two of the dead bodies were suspected to be salesgirls in one of the burnt  shops, while the other male body was found in another shop close to the scene of the fire incident.

Yesterday, the traders constituted themselves into rescue groups and were packing the debris, only to discover the three dead bodies.

Some of the traders almost threatened to cause riot when they were informed that Governor Obiano was coming to sympathize with them.

The governor, who visited the scene at about 9.20am for on the spot assessment of the disaster, could however not enter the burnt market.

Commissioner for Information and Public Enlightenment, Mr. Don Adinuba, in a statement said Governor Obiano and the entire people of Anambra State regret the unfortunate situation, adding that the state government had taken steps to address the concerns of those affected.

He said: “ Government therefore requests owners of properties affected by the tragic accident, shop owners and family members of deceased victims to assemble at Ekwueme  Square, Awka on Monday October 21 2019 at 11am for documentation and to see how the Anambra State government can assist them.

“ A panel headed by the Deputy Governor, Dr. Nkem Okeke has been set up by the governor to immediately determine the cause of the accident, why the firemen could not put out the fire and how the condition of the victims can be ameliorated.

“Governor Obiano and all citizens of Anambra State identify with victims of this unfortunate fire incident and the general inhabitants of Onitsha over this sad inferno. The Anambra State government will do it’s best to stand by those affected.

“Government therefore calls on all citizens to remain calm in the face of this disaster and be reassured of government’s commitment to the well- being of all and sundry.”

He explained that security agencies in the state had been directed to ensure that law and order were maintained within and around  the affected areas.

Former member of House of Representatives, Dr. Tony Nwoye said it was a sad day for Anambra State, regretting the enormous loss of lives and property.

He added: “I empathise with the families of the dead victims and  those who lost properties to the inferno. I urge them to show courage and utmost faith in the Creator. The sun will still shine on them all

“This accident has become too recurring in Anambra and should worry everyone. The collaboration of the government, relevant stakeholders and the citizens, is needed to develop a proactive strategy that will forestall any further occurrence of this nature. Never again shall we witness anything such as this.

“This is a time for us to show faith in our state and rally around the victims of the carnage. I call on Anambra people to come to the aid of the victims and collectively give them support to rebuild their businesses and overcome their grief. It is indeed a troubling time and we must have to show that brotherly spirit and love that make us Ndi Anambra at this time.”

In his reaction, the Director General of Nigeria Inland Waterways Authority, NIWA, and a chieftain of All Progressives Congress, APC, Chief George Moghalu, called on the state government and other influential people in the state to come to the aid of the victims.

He added: ”I am saddened at the loss of lives and we never wish for incidents like these in our dear state.

“I urge the Anambra State government to do what it is supposed to do to ensure that the traders continue to earn a living.”

One of the victims, Mr. Chukwuka Okeke, a neighbour to the woman who died with her baby in the fire incident, described the tragedy as unfortunate but avoidable.

According to him, it was not up to twenty minutes he chatted with the woman before she was consumed in the inferno.

In an emotion-laden voice, he said: “We were in our shops when I got the call that there was fire incident at  Iweka. Though we saw smoke going up from a distance, nobody could believe it would extend to this place.

“For over three hours, we were perceiving the smell of fuel mixed with gas from the tanker as it flowed through the drainage until the whole thing went up in flames.

“The woman had already rushed out of the shop with her baby when she suddenly went back. But she slipped and fell inside the gutter, which was already in flames.”

Okeke said the woman whose husband also owns a shop in the city, had the baby early this year after 16 years of marriage.

“She got married in 2003 but had her first baby early this year. It’s really a tragedy,” Okeke said.

Efforts to speak with some landlords whose houses were burnt along Upper Iweka Road proved abortive as some, who were around were still in deep shock and their children could not speak for them.

One of them, who managed to speak but did not give his name, said he is devastated and cannot able to quantify what he had lost.

He said: “I cannot even do any quantification of my losses and you know my tenants also lost greately in goods and house hold items.

“Today is not the time to speak. We are still in great shock. This incident is not because we are careless, but something that happened in far away Upper Iweka and here we are counting loss on Iweka Road.”

Other affected traders in the incident along Menax, Iweka Road and Zik Avenue by Ochanja Market Roundabout also declined to speak with Vanguard, saying they are still counting losses and will not be able to give account of what they have lost.

When Vanguard visited the Ochanja Market and Zik Avenue, angry traders were seen salvaging, in pains and bitterness, some goods they felt could still be useful while others whose wares and shops were burnt completely, were bemoaning their losses and raining insults on all the relevant authorities that could not come to their rescue.

Speaking with Vanguard, Chairman of Ochanja Central Market, Mr. Nelson Ojukwu confirmed that five shops inside Ochanja Market were burnt, adding that but for his traders and the leadership of the market who mobilised water tankers, the whole market and the surrounding buildings would have burnt to ashes.

Ojukwu called on the Anambra State government to provide the markets with fire-fighting trucks to alleviate the sufferings and losses the traders and individual house owners incure during fire incidents.

How mob stopped firefighters

Meanwhile, the Federal Fire Service, FFS, has expressed sadness over the loss of lives and properties during the fire outbreak, saying its men were stopped by a mob, who pelted its officials with stones and equally blocked the road.

Controller-General of the Federal Fire Service, Liman Ibrahim, who disclosed this in a statement by Service Public Relations Officer, DSF Ugo Huan, said the nearest fire station to the scene is in Asaba, Delta State.

His words: “The Federal Fire Service received a call about the fire outbreak at about 2p.m. The control room at the headquarters in Abuja immediately turned out the nearest Federal Fire Service Station at Asaba, Delta State, to attend to the fire.

“Our men immediately headed to the scene, but it was not possible to contend with the traffic at the head bridge and the behaviour of angry mob who pelted stones at them.”

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Border Closure: Nigerians Starve To Death As Food Prices Nearly Double – NewsRescue.com

person chair dining table

Nigerians recently have been lamenting as the prices of commodities skyrockets due to closure of the Nigerian borders.

Food items such as rice, frozen foods and other commodities continue to an increase of up to 75%.

According to traders in major markets, the action is punitive because a lot of them who are doing legitimate businesses now have their containers stranded at the border.

Nigerians are feeling the pangs of the border closure as the price of a bag of rice that was sold around N12,000 to N15,000 before now sells around N28,000. Also, a carton of frozen food (orobo chicken) that sold before at the rate of N8,000 to N10,000 now sells for N13,000 to 15,000.

To Nigerians, these foods are essential to their survival because they are consumed in large quantities which necessitated their large importation.

A rice retailer, Mr.Uchenna at Ikotun market in Lagos, lamented the absence of locally produced rice which was the reason why borders were shut, adding that they were not available.

“We have been battling with the price because since the borders were shut the price kept increasing”.

Mr.Ernest said the pains that arose from border closure were much than what the citizens could afford.

He said “Government should have considered making the alternatives in abundance before closing the border which has resulted in cutting off food supply.

He went further by saying, “the claims that we are rice sufficient have been defeated because after the border closure, not only do we have shortage in supply but the prices of locally produced rice have gone up.

“If we are self-sufficient in rice production as claimed, we should by now be exporting the product to other countries”.

A major supplier of frozen food, Mama B, said, “To be frank, frozen foods are scarce in the market now. Only a few of us that have it in stock increase the prices, so, maybe some customers don’t have a choice but to buy”.

Read more at: https://www.vanguardngr.com/2019/10/nigerians-lament-as-prices-of-food-items-increase/

The views expressed in this article belong to the author and do not necessarily reflect the editorial policy of NewsRescue

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