Steven T. DennisTesla, run by Elon Musk, has lost 55% of its market cap so far this year and is now worth less than $500 billion.
Tesla has also never been more profitable.
Cranky David@steventdennis
good combo of indicators showing it is overinflated.
good combo of indicators showing it is overinflated.
Joe ❌👑@steventdennis But investors value a stock based on what they expect in the future. Musk has poisoned the brand. Conservatives don't buy electric cars, liberals do, so sales are going to dry up. Many existing Tesla owners are deeply embarrassed, feel like they are driving around in a MAGA hat.
DeeplyAware@not2b @steventdennis well put 😀
VBLes@steventdennis When does Elmo get a margin call?
Dr. Christian DeFeo@steventdennis It's amazing what an obvious display of incompetence can do.
Neil Federspiel 🇨🇦@steventdennis I am not unhappy to hear this. But then, I have no investment in Tesla and I will avoid making any contribution to their bottom line.
Anaximander@steventdennis
While I have no sympathy for Musk, I take no pleasure in seeing the impact he is having on #tesla now. Its the only US mfgr that can deliver EV's on mass scale. Today's NPR speaker was saying legacy auto is still incentivized to sell gas cars. A damaged Tesla brand reduces demand & puts less pressure on legacy auto to move to #EVs .
The decline of Tesla is bad for the transition to #renewables & if you favor of getting off #fossilfuels you shouldn't want to see Tesla fail
@Anaximander @steventdennis In 2021 Tesla sold 935k vehicles, and world sales of electric cars were 6.9 million, so Tesla is far from the only game in town. It's true that Chevy Bolt sales and production has been anemic so far, but there are many import options, and what I'm hearing is "my next car will be electric, but not a Tesla".
Shell Sheddy@steventdennis
Rather foolish of #MalignantNarcissist Musk to attack being #Woke ---
When the #responsible people who actually care for the Planet and want to #stopClimateDestruction are the ones who
buy Electric Vehicles ....
Musk isn't an inventor --and never was one; he just has the $$$$to buy a good idea ...and then #Spins it to portray himself as Chief Genius (the "emperor" has revealed himself,tho); it's been self serving #hype
Tequila0341@ShellSheddy @steventdennis Tesla's precious valuation is what years of interest rates below zero does to equity markets
JenL@steventdennis Have to imagine it would be far less than $500 billion of millions of Americans weren’t forced to hold it as part of the index it doesn’t really belong in. Had anybody calculated what its meme stock-based index inclusion (and weighting) has cost the average 401k investor this year? 🧐
John_G_R_Wilson@steventdennis Tesla has actually lost slightly over 61% of its value since its 52-week high of $402. This warms the cockles of my heart; pure schadenfreude.
1_Tru_Me@steventdennis
It’s a start.
It’s a start.
James Glueck
Swearygrandma