Keep it going. Canada, you’re doing great.

  • cronenthal@discuss.tchncs.de
    link
    fedilink
    arrow-up
    261
    ·
    7 days ago

    Just a quick summary:

    • insiders are selling huge amounts of stock
    • sales figures in the last two months were horrible
    • constant recalls of cybertrucks which are also basically not selling
    • protests and vandalism
    • brand is universally hated
    • record trade-ins and sales of second hand vehicles
    • no new models or products in the pipeline
    • laughable vaporware announcements
    • begging employees not to sell
    • begging Trump for a sales show
    • questionable accounting practices exposed in financial times

    How anyone can still hold on to Tesla stock is beyond me.

    • ragingdachshund@lemm.ee
      link
      fedilink
      English
      arrow-up
      82
      ·
      7 days ago

      Busted for attempting fraud for EV rebates in Canada at numbers not physically possible and being stupid and arrogant enough to think he’d get away with it

      • merc@sh.itjust.works
        link
        fedilink
        arrow-up
        4
        ·
        5 days ago

        What I love is that it’s a damned if you do, damned if you don’t situation.

        The whole reason it has such an absurd valuation, 20x higher than a normal car company, is that they convinced investors they weren’t just a boring car company. They had a visionary CEO who was going to keep innovating and growing the company in ways that normal car companies could never replicate. He was Tony Stark! Now they’re in a situation where it’s that same CEO who’s dragging them down. His politics is tanking their reputation, so it’s tanking their stock value.

        The problem is, if they dump him as CEO, there’s absolutely no way to justify the absurd P/E ratio. They can’t just go out and appoint another supposed “Tony Stark” to run the company. That means they stick with him and their stock price tanks because he’s one of the most hated people in the world. Or, they ditch him and their stock price tanks because with their visionary CEO gone, the jig is up and there’s clearly no way to justify a P/E ratio of 100 when Toyota has a P/E ratio of approximately 7.

        And for Elon, half his wealth is Tesla stock, and he borrowed against that Tesla stock to fund his Twitter purchase. If Tesla tanks, it all could come crashing down around him. There’s no escape for him either. He can’t realistically even sell his stock because as soon as he started trying to do that it would signal his lack of confidence and cause the value to plummet.

        It’s just annoying that Tesla’s stock isn’t crashing faster. So many people who don’t believe in the sunk cost fallacy, and are desperately lying to themselves rather than cashing out before the bubble bursts.

        • ramenshaman@lemmy.world
          link
          fedilink
          arrow-up
          9
          ·
          6 days ago

          Maybe internationally, but people in the US are itching to get good non-Tesla EVs and some of them aren’t stoked about Kia and Hyundai, unfortunately.

            • naeap@sopuli.xyz
              link
              fedilink
              arrow-up
              3
              ·
              6 days ago

              I’m happy since years with Renault - first we got a kinda old Megane, that really was awesome and my wife really had her heart in it

              So, when it was time to sell, because repairs would have cost us more than it’s value, we were lucky that they brought out a Megane E-Tech (EV) and it just really is great
              It could have some higher charging speeds, but it drives like a dream and the power of the e motor is nothing to compare with (well, besides other EVs)

              It’s a rather small car, but it’s perfect for the city and we can still fit our snowboard/skis for such trips.
              And shortly after we got it, we were driving on a highway with a 100km/h in a tunnel. Besides us was a tuned up Porsche and naturally we had a little race after the speed limit was lifted.
              The Porsche driver couldn’t keep up with the acceleration and you could really see his face getting red and more red, because his expensive tuned Porsche couldn’t keep up with our efficient city cruiser

              It’s also great to get by cyclist in the city, because you instantly have the torque you need, and don’t need to shift back and hope to hit the right spot of the engine.
              There is pretty much no latency and…we just fucking fell in love with it

              It’s a really great car and I don’t know, why Renaults seem to be not available in the USA

      • xmunk@sh.itjust.works
        link
        fedilink
        arrow-up
        11
        ·
        6 days ago

        I think the writing on the wall is that the US stock market is going in a direction. If you may need that money in the next decade or ever it may be an excellent idea to diversify.

        This is not financial advice but the US exchange is highly volatile at the moment.

        • SaturdayMorning@lemmy.ca
          link
          fedilink
          English
          arrow-up
          4
          ·
          6 days ago

          I agree with you. As well, if you want to squeeze out a little more profit, transferring usd to CAD while the spread is the widest is probably a good move.

          I’m not a personal advisor though.

    • sowitzer@lemm.ee
      link
      fedilink
      English
      arrow-up
      8
      ·
      6 days ago

      Is been known for years that Tesla was extremely overvalued and a crash was eventually going to happen. People hating melon musk might be helping, but it’s not fully why, and that is good. It’s a shit company all around. My fear is given his current position with Trump, this could be end up working out for him and other oligarchs and hurting a lot of regular investors.

      • GreyEyedGhost@lemmy.ca
        link
        fedilink
        arrow-up
        5
        ·
        6 days ago

        There are good indications that a significant part of the overvaluation was due to Musk hype, so clearly people hating on Musk will have an outsized impact compared to the public faces of other corporations. I’d still say that’s a good reason for the stock to drop. Now, add on massive recalls to the truck designed in Minecraft, and lackluster sales for a variety of reasons (including Musk hate). It’s not a good time to own Tesla.

    • SaturdayMorning@lemmy.ca
      link
      fedilink
      English
      arrow-up
      3
      ·
      6 days ago

      Don’t forget usa commerce secretary howard lutnick pimping tesla stock on fox news (last week or something?)