When Tesla kept falling, finally dropping below $700 I felt I had ridden it down long enough. From over $1,000 in the 3rd week in April I rode it down for 4 weeks or so. I would not call it impulsive. But looks like they got me.
If people were panicking like me -- and there had to be a lot of people like that -- then why did the selling stop and the price rebound? Your theory of the market would mean more selling, no? My theory works
Ok so you agree you got to a moment of panic and sold. That's what so many other people felt at the same time.
Obviously there is not infinite selling. Every step down affects a different pile of shareholders. You seem to have been in a very large group of shareholders that collectively felt $680 was just too much pain. You all sold at the same time.
And some other group of buyers felt under $700 was the bargain they were waiting for.
Another way to avoid panic selling is to ask yourself if you would buy the stock today, if you had that much cash in your brokerage account. In other words, pretend you don't own the stock and ask yourself if $680 feels like a price you would get in at. This is to avoid sunk cost fallacy. The quality of an investment going forward doesn't matter what you paid for it many months or years ago. (unless cap gains taxes are part of the equation)
Maybe if you had gone through that exercise and said 'wow I'd be a buyer at $680' you would not have panic sold.