Buying Stock?

Discussion in 'Tesla Discussions' started by Dan Detweiler, Feb 22, 2018.

More threads by Dan Detweiler
  1. Dan Detweiler

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    Really, really, really stupid ignorant question here but how exactly does one go about purchasing Tesla stock? I have a 403b through my work but I have never tried to purchase individual stocks before. I might have some extra money after this year's tax refund and was thinking about possibly investing in the home team. Any help would be greatly appreciated.

    Dan
     
  2. SoFlaModel3

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    I use TD Ameritrade for individual stock trading. Fairly standard and easy to use. Usually for new members there are waived commission fees as well.
     
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  3. Dan Detweiler

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    Being completely ignorant, what kind of fees should I expect, both initially and ongoing?

    Thanks,

    Dan
     
  4. SoFlaModel3

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    You should expect no fees up front unless you incur wire transfer fees (generally ACH would be free).

    From there commissions on a trade whether you buy 1 share or 1,000 shares would likely be anywhere from $5-20. Consider that if you make quick small trades you need to cover the commission in and out or only the broker makes money :)

    There may be a minimum initial deposit for your trading money, but that shouldn’t be an issue if you’re buying shares in TSLA ;)
     
  5. Dan Detweiler

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    Should I expect a minimum number of shares or $ to buy in?

    Dan
     
  6. SoFlaModel3

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    Not these days, but way back when they’d call it an “odd lot” and it was less common to trade in abnormal blocks.

    Today you can freely (easily) buy 1 share, 2 shares, etc.
     
  7. garsh

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    What financial institutions do you already have a relationship with?
    Which one has your 403b investments?
    Do you have investments anywhere else besides a bank or credit union?
     
  8. Brokedoc

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    FYI - I would wait on buying TSLA. As we can see from our production watching, something funky is going on with Model S/X production. Model 3 production appears to be ongoing in spurts and if those vehicles are diverted to Canada in the near future, Tesla will still make $ on the sales. Irrespective of the reason (retooling, timing the 200k threshold, etc), this Model S/X delay will likely result in production shortfalls for Q1 and/or Q2 which were not previously forecast in investor correspondence. I expect a temporary drop in stock price when this is announced. That may be a better time to jump into the stock.
     
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  9. Dan Detweiler

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    I won't be getting my refund from Uncle Sam for another several weeks at least. Trying to get some preliminary info in line now. Not totally sure who runs my 403b. I'll have to check that one.

    Dan
     
  10. Guy Weathersby

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    You also had to pay an odd lot fee (usually 25 cents a share) in addition to the usual commission. Usually stock traded in round lots, normally 100 shares.
     
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  11. phigment

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    Just a word of caution. If you are new to stocks, be prepared for a bumpy ride with TSLA. It is extremely volatile. Often times when you see the major indices moving around, this is amplified in TSLA (high Beta).
    eg NASDAQ goes down 1%, TSLA down 4%.
    Nasdaq up 1%.. TSLA up 3%.
    NASDAQ up 1%, but there is a rumor that the model 3 has a squeeky hub cap, TSLA down 3%.
     
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  12. Dan Detweiler

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    I look at it this way. I have some extra discretionary income at the moment. If I lose it, no great loss. If I triple my investment...GREAT! I just want to be along for the ride and feel like I am helping just a little bit.

    Dan
     
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  13. brendon0

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    What exactly leads you to believe that there is something funky going on with the S/X production? I see reports of issues getting battery packs built, but is something reporting or telling stories about this?
     
  14. Brokedoc

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    typical lead times for S/X are 4-6 weeks from configuration. Now it's suddenly jumped to 4 months. Check the configurators on Tesla.com
     
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  15. Frank99

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    Dan -
    There are a number of reputable online brokers - amertrade.com, etrade.com, Schwab.com, etc. Choose one, sign up for an account. You can send them a check to fund it, or do a direct transfer from your bank (in either case, the registration process will walk you through it). Once your account is funded, they'll give you a million options for trading stocks - most of them are intended to make them money, not necessarily you. Limit yourself to "Buy" and "Sell", they'll make it easy to type in "quantity: 20" "Symbol: TSLA" and buy 20 shares.
     
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  16. escondidos

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    If you have never purchased stock and want to learn the easy way try Robinhood (https://robinhood.com). It offers free basic trades. It currently is a phone app only tool. They intend to provide online browser based access in the future. Also, if you want to get into crytos it is doing direct buy and sell of a number of them in select states in the US since Feb. 1.

    I used it to buy TSLA in Nov. at $299 a share :) Needless to say I have been in the black the entire time since then!
     
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  17. rsbell

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    Ha! I own crypto-I laugh at “bumpy”! o_O

    Its gone down 4% in the time it took to type this!
     
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