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
Musk believes he’s smarter than everyone else. So think of how stupid Musk is, then imagine how dumb he must believe everyone else is in order for him to be the smartest man alive.
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.
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
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.
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.
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.
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.
Just a quick summary:
How anyone can still hold on to Tesla stock is beyond me.
And they pay no dividends.
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
Musk believes he’s smarter than everyone else. So think of how stupid Musk is, then imagine how dumb he must believe everyone else is in order for him to be the smartest man alive.
Have/will they face any repercussions for this though?
Actually, because it’s not a fraudulent oligarchy, Transport Canada is actually investigating
https://electrek.co/2025/03/07/tesla-made-a-suspicious-number-of-rebate-requests-on-last-days-of-canadian-ev-incentive/
You left out “Incredibly high P/E”
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.
and the rebate fraud in canada.
My Rivian and Lucid stocks were doing great before Trump fucked everything up.
Bail while you can. Nobody is going to buy American for a generation.
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.
I will rejoice the day I’m allowed to buy a BYD.
I will rejoice when I get my Aptera or Telo. Or Rivian R3.
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
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.
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.
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.
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.
Don’t forget usa commerce secretary howard lutnick pimping tesla stock on fox news (last week or something?)
Oh right, what a sad spectacle that was.