An electric car company who's sucking right wing dick and pissing off liberals isn't breaking records?!
BUT REPUBLICANS LOVE GREEN ENERGY
this post was submitted on 06 Feb 2024
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yeah, honestly, if you zoom out summary level, the whole thing is so confusing.
I'll admit I wasn't paying attention, so high-level he seemed like a Tony Stark, liberal darling: investing in space, internet access, electric cars, and solar. I mean, the dude was set to be a left-wing mascot. Boy was I an idiot. But I admit I wasn't paying close attention to any early flags.
Honestly, same. I liked him up till he called that dude a pedo for saving those kids before he could. He seemed cool up till then for the most part then holy shit did he nosedive.
Literally all he had to do was to shut the fuck up and let his companies make infinite money for him. But no, he's got to have his own personal face in the news. Now here we are, Musk is one of the most hated people on the planet and every single one of his businesses are tanking into the lithosphere.
It would be a lesson on hubris if he was capable of self reflection.
Yeah, apparantly there was shit before the pedo thing but it wasn't super widely known? To me, and many like me, he was just this shitposter running companies that seemed like they might really do cool shit like self driving cars and taking us to mars.
It's not prostitution if you pay in horses. Then it's patriarchy.
We had a good thing, you stupid son of a bitch! We had Tesla. We had SpaceX. We had everything we needed, and it all ran like clockwork.
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He was on track for that for sure. But he had two crippling flaws: anti union, and ego obsessed jackass.
The first is obvious how it went down. We like unions, he’s deep in the Californian ideology that caused conflict and he rejected the left aspects of that ideology because of what appears to be a lack of emotional regulation. And that’s where the second comes into play here. It’s also partly because the left is vicious. We kill our heroes to an unhealthy degree.
All that aside, they've also been floundering lately and lacking in any substantial new developments. Self driving isn't really progressing, their line-up hasn't seen any refreshes, no new features, and all they have to show for it is a Cybertruck with a bunch of issues and delays that probably wasn't going to sell well to begin with.
This really isn’t surprising. Their market cap was larger than the whole of the rest of the auto industry combined. Had to come back to earth eventually.
I wanted to short it because it was obviously overvalued but I was absolutely not confident it would come down because I will always believe there are greater fools among the Tesla shareholders.
Remember: the market can remain illogical a hell of a lot longer than you can remain solvent.
Exactly. Nvidia's stock is propped up by AI hype, and that's going to collapse at some point. That could happen tomorrow, or next year, or three years. If I try to short it, I could easily lose the whole investment before the market hits reality.
Something about how the market can stay irrational longer than you can remain solvent…
Michael Burry, who shorted the housing market in 2008 and made big upfront payments for that bet also shorted Tesla in the last couple years, but bailed because it was too risky for him.
Musk manipulates the hell out of that stock's price
It's getting much harder for him to do that. Mostly because the last time he tanked the stock price, it (justifiably) never recovered.
Especially when he keeps dumping Tesla stock to bail out Xitter.
When written as
Xitter
Does anyone else pronounce it "shitter"?
yes
Every time. But to be fair I was calling it Shitter a long time before the name change.
Hmmm looks like all the Tesla speculators jumped on the Nvidia train. Always the danger of gambling on these tech hype stocks.
The original memestock.
"Worst performing stock this year"
It's february. I think whoever wrote that article has an agenda.
Well, it's a bit surprising that Tesla is the worst-performing stock so far. I mean, the Boeing scandal was a disaster image-wise, and others are struggling real hard. But even with all that, Tesla is performing worse than the airplane manufacturer, who can't build secure and quality-controlled aircraft. The tide is turning for Tesla. Competition is getting stronger and starting to roll out strategies like the BMW 50% 2025 Plan, which means Tesla as an electric automobile manufacturer has dire times ahead if they don't start fixing things.
Tesla long stopped delivering on promises they, or rather Musk, made. They need something other than words and visions to sell, and fast, otherwise, the stock is going to normalize more and more, to a degree a mid-sized automobile manufacturer would be, as the shareholders slowly start losing faith and jumping ship, as long as the stock is overvalued and there are buyers.
That probably means it's a good time to buy the stock tbh
Not really. It still has a price to book ratio of 9.10, which is still ridiculous for a car company.
For comparison:
Toyota is 1.21
Ford is 1.05
Honda is 0.66
VW is 0.38
Nissan is 0.36
The price-to-book ratio, or P/B ratio, is a financial ratio used to compare a company's current market value to its book value (where book value is the value of all assets minus liabilities owned by a company).
I agree, but hype drives up tech stocks. I don't buy tech stocks at all because it's just random in this regard
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(Nelson voice) “ha ha!”
But it’s a negative when his antics have helped erase more than $200 billion of shareholder value.
I'm guessing his reply to that is:
People shouldn't throw their Teslas in the water, whatever the way the stock performs.
Right, you're only supposed to throw car batteries in the ocean, throwing the whole car in is just littering.
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lol
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