Tesla shareholders are a rare breed, sometimes putting almost every thing, and we mean every thing, on the road in hopes of striking it big and making major waves in their very own portfolios.
Jason DeBolt is considered one of those shareholders.
DeBolt, a shareholder since March 26, 2013, sold his home and purchased around 10,000 shares. The extra 10,000 shares supplemented the 38,000 he already owned.
He began buying the ten,000 additional shares slowly over the past several weeks on margin, or using a loan from a brokerage to purchase more shares, within the $128-139 range before the corporate’s most up-to-date Earnings Call.
As of Thursday, he was up $250,000 on his most up-to-date investment using funds from the sale of his home. “Closed out margin today with house proceeds. Have money. Feeling good,” he Tweeted.
Sold my house and purchased around 10,000 $TSLA shares. Own 48,000 shares now.
Purchased all shares slowly over previous couple of weeks before earnings on margin in $128-139 range. Up $250k on these shares already. Closed out margin today with house proceeds. Have money. Feeling good.$TSLA pic.twitter.com/aIW7m8d9FJ
— Jason DeBolt ⚡️ (@jasondebolt) January 26, 2023
In an exclusive interview with Teslarati, DeBolt shared his inspiration for the daring move. He noted that Tesla’s attractive stock price was what inspired him.
“Mainly, the attractive Tesla stock price is what drove me,” DeBolt detailed. “It was just too low-cost to disregard. Tesla’s stock price had dropped 76 percent from an all-time high of $415 to $101 in a little bit over a yr. During this era, Tesla grew revenue by 51 percent, doubled its net income, rolled out FSD to tens of hundreds of individuals, and commenced ramping up Megapack production at Lathrop.”
The developments Tesla revamped the past yr were too good to disregard for DeBolt, at the same time as some speculated that CEO Elon Musk’s acquisition of Twitter had caused the spiraling of the stock price.
“Many Tesla investors blamed Elon’s behavior for having a task within the drop, but I used to be trying to search out a solution to get money to purchase more shares. Selling my house was the apparent answer,” DeBolt said. I didn’t wait to receive the proceeds from my house sale and used a margin loan to build up 9,500 Tesla shares before earnings, leading to a $400,000 gain two days after Tesla earnings on those shares alone. I currently hold 48,000 Tesla shares.”
His investments enabled him to retire from his day job as a software engineer on January seventh, 2021, on the age of 39.
DeBolt’s journey with Tesla shares began long before that. DeBolt has supported Tesla since he saw the Roadster in 2009 and the early Model S prototype on the San Mateo Maker Faire.
“I ordered a Model S in 2011 and took delivery in 2013. I purchased hundreds of shares for about $2 a share after seeing the Fremont factory and driving my Model S for the primary time,” DeBolt said. “I continued buying shares when no person wanted the stock. It was obvious to me that Tesla was going to disrupt the complete automotive and oil industries back then because EVs are fundamentally superior to gas vehicles in every way, and there have been no serious competitors to Tesla back then. That is true today as well.”
After selling his home, DeBolt rented a recent place near the beach in Los Angeles, California.
Today I’m retiring from the company world at age 39.
— Jason DeBolt ⚡️ (@jasondebolt) January 7, 2021
“There’s a bit more freedom. The last two years of retirement have been amazing. Still, I’m beginning to search for something to construct and do with my time, so I’m exploring areas equivalent to machine learning, finance, and philosophy along with my ongoing Tesla research. My life is pretty dope, and I’m doing exactly what I would like to be doing. I attempt to stay physically fit. I’m quite fortunate.”
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