Rolling StoneDec 27, 2022
Tesla has lost $800 billion in shareholder value this year -- and the stock price keeps dropping. https://www.rollingstone.com/culture/culture-news/tesla-stock-price-collapse-1234653228/
Tesla's Stock Price Hits a Multi-Year Low

Tesla has lost over $800 billion in market value in the last year — a decline fueled by Musk’s sloppy work at Twitter

Rolling Stone
Show threadOdyDec 28, 2022
@RollingStone Good.
Show threadCindi’s place
@Ody @RollingStone hopefully they’re bankrupt completely in the next few months and someone less insane buys it for pennies.
Dec 28, 2022 at 12:22amWeb
Show threadOdyDec 28, 2022
@CindisPLace @RollingStone
Hopefully a post-Musk #Tesla figures out how to build cars that don't spontaneously combust.
Show threadCindi’s placeDec 28, 2022
@Ody @RollingStone other car companies apparently to be able to. Then again Tesla is a carbon credits reseller not a car company.
Show threadOdyDec 28, 2022

@CindisPLace @RollingStone

It's what now?

I did not know this.

Show threadCindi’s placeDec 28, 2022
@Ody @RollingStone Tesla makes electric cars usually at a loss, their main source of income is selling the carbon credits they earn for these EV cars to other companies like GM, Ford, etc. Not only are Tesla sales down these other companies are now starting to produce their own EV products. Tesla is in trouble going forward.
Show threadOdyDec 28, 2022

@CindisPLace @RollingStone

Huh. I didn't know EV credits could be bought and sold. That seems counterintuitive.

Show threadCindi’s placeDec 28, 2022

@Ody @RollingStone

I agree the whole thing seems shady and counter productive.

https://www.forbes.com/sites/qai/2022/09/08/tesla-stock-breakdown-by-the-numbers-how-does-tesla-make-money-in-2022/amp/

Tesla Stock Breakdown: By The Numbers, How Does Tesla Make Money In 2022?

We all consider Tesla an electric vehicle maker, but this company has other lines of business - from tax credits to solar panels to crypto. We examine Tesla’s financials to see how the company actually generates revenue and profits. No hype.

Forbes
Show threadOdyDec 28, 2022

@CindisPLace @RollingStone

Having read that, I'm shocked investors were so gung-ho on this company. It's a ticking time bomb.

Show threadCindi’s placeDec 28, 2022
@Ody @RollingStone exactly. What’s the draw? This was always a house of cards.
Show threadAtzDec 28, 2022

@Ody @CindisPLace @RollingStone if done right it's a clever way of letting the market shift towards greener energy. Rather than regulate specific solutions you make the cost of the thing you want to stop higher. You can pollute if you need to - so long as you're paying somebody to clean up. And you create a market for the people cleaning up which can drive innovation.

In practice I don't think it works that well (in the US at least)...