Mike Masnick ✅Dec 27, 2022
Next time someone criticizes my coverage of Elon Musk and says something along the lines of "have you built the first successful EV company or launched rockets into space? Then you shouldn't comment!" I'm going to point out that the answer is no, but I've also never destroyed this much shareholder value in a year.
Show threadDirk HohndelDec 27, 2022

@mmasnick
Turns out Amazon, Apple, and MSFT have had similarly bad years. Maybe not in the form of such spectacular implosion - and if you take percentage of value lost, not even close...

https://www.marketwatch.com/story/teslas-stock-drop-has-been-bad-but-this-company-has-wiped-out-more-investor-wealth-11671652315

Tesla's stock drop has been bad. But this company has hurt investors even more.

Despite all the pain from Elon Musk’s Twitter distractions, Tesla ranks fourth on a list of the worst S&P 500 stocks of 2022 by market-value decline

MarketWatch
Show threadEmily 🏳️‍⚧️Dec 27, 2022

@dirkhh @mmasnick that article makes the amazing point that 2% of large number is much bigger than 40% of a small number.

Which is the sort of stupid argument I’m sure Elon buys into as TSLA slides past 60% down YTD. ‘I’ve destroyed 60% of TSLAs value in a year, but that’s less cash than Amazon down 4%’ is only a win to an idiot.

Show threadDirk HohndelDec 27, 2022

@EmilyGB20
you already said that Elon would think it's a win 🤷🏼‍♂️

As always, perspective matters. Something like "the largest percentage drop in market cap in nine months for a company worth more than $100B"

@mmasnick

Show threadEmily 🏳️‍⚧️
@dirkhh @mmasnick no, raw percentage I think matters. Nobody would care if TSLA was down 5%. Good and bad years happen, good and bad markets happen. Down over 60% in a year? Catastrophic.
Dec 27, 2022 at 11:10pmWeb