Finnish poker player wins close to $500k, bets it all on Tesla stock
Finnish financial daily reported that Finnish poker player Pauli Äyräs came fourth in the Super High Roller Bowl Online poker tournament and cashed in 487,500 US dollars. He pledged on Twitter that he is spending it all on Tesla stock.
After winning Äyräs publicly pledged that he is spending it all on Tesla. To be specific, his plan is not to buy a new car, but the electric car maker's stock. The 23-year-old announced on social media service Twitter:
"Every dollar is going to Tesla stock. I already have a ludicrous position. Time will tell what happens to the greedy man."
Original tweet in Finnish shown below:
Eilen tosiaan mukava rahastus, 487.500$.— Pauli Äyräs (@Fiilismies08) June 3, 2020
Jokainen dollari menee #Tesla osakkeisiin. Mulla jo valmiiks aika posketon positio. Aika näyttää miten ahneen käy #pokeri #bitcoin #Tesla https://t.co/iyrsfW9sFL
The company making electric cars and energy storage products is known for high volatility in its stock. This year the $TSLA stock went to over $900, but then coronavirus and covid-19 fears took it down too less than $400 dollars. Since that it has inched back towards record highs. For reference, a year ago in May 2019 the stock was trading at less than $200.
The stock is highly volatile as a speculative investment. Tesla often ranks number one as the most short sold stock on the US stock market. Volatility is also caused by the company's celebrity CEO Elon Musk who is known for his antics, most recently about the brawl with the California state officials over Tesla factory closure during the coronavirus pandemic.