Keep it going. Canada, you’re doing great.
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.
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
How anyone can still hold on to Tesla stock is beyond me.
And they pay no dividends.
and the rebate fraud in canada.
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.
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’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 cruiserIt’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 itIt’s a really great car and I don’t know, why Renaults seem to be not available in the USA
I will rejoice when I get my Aptera or Telo. Or Rivian R3.
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.
So he can sell his and cash out first?
Nah. Tesla’s dead. Now we need to kill spacex
IF you have Tesla shares AND you waited for a sign to sell them all asap …
who would invest in a car that’s so susceptible to spontaneous combustion
And so attractive to molotovs
Elon has NOT demonstrated ANY transparency THIS YEAR. Don’t listen to his words. Words are a “tool” that he uses to get what he wants, NOT what you want. He doesn’t think he is lying, it’s just business “management.” Lying is his way to help his business thrive. Perfectly normal…for him.
Perfectly normal for ALL Sociopathic Oligarchs. Lying, cheating, bad ethics, willingness to break the law, etc. are all considered valid business strategies these days. I’ve know many businesspeople who believe that.
Most businesspeople want to operate their businesses legally and ethically. People with morals and consciences wouldn’t be proud of having a successful business if it only got that way through nefarious behavior.
Unethical businesspeople know that, and look for honest businesses like that to exploit. They see their unethical and illegal behavior as a competitive advantage over their honest competitors. They know their opponents won’t cross a certain line, but they will, and they are actually excited to do it. They enjoy being dishonest, it makes them rich.
Charges of domestic terrorism against anyone selling his Tesla stocks in 3… 2… 1…
Ken Lay, the head of Enron, told his employees the same thing.
And they’ve a thriving memecoin now, so do as Enron does, amirite?
Liquidate Musk. Appropriate his assets and redistribute the proceeds.
Liquidate Musk, in a blender, in Minecraft.
Nationalize all his companies. SpaceX should just be NASA anyway. SpaceX is actually an impressive company with great engineers despite Musk. The only bad parts of SpaceX are all connected to Musk and Management.
Now that’s a sign of a healthy company!
I may not know anything about the stock market, but I think this means everyone should sell their stocks.
Musk has previously bragged that employee stock awards helped fend off unionization efforts in Tesla factories.
Indeed, Tesla is currently the only major American automaker whose workforce isn’t represented by a union. Musk’s strategy has previously been to pay employees much lower salaries than other American auto companies, offset with those Tesla stock awards.
Now that employee stock holdings are in the toilet, the leverage Musk once had over his laborers is quickly slipping through his fingers. The deeper Tesla’s stocks plummet, the closer Musk pushes his underpaid workforce toward the bargaining table — which would be a huge cut to his own personal fortune.
But that’s something only Tesla’s employees can decide. In the meantime, calls on Musk to step down as Tesla CEO are only getting louder.
You expect unions to remain “legal” if that happens?
I expect hungry laborers who watched friends and family die in unsafe working conditions to do what is necessary.
Labor and capital have fought literal battles here before
Yep. They done fucked up letting this entire country arm themselves to the teeth. It’s time for some armed labor movements on factory floors. Worker takeover of the company.
Historically, that’s when we collectively reach for the ammo box. Hopefully we get it right this time.
I sold my Tesla stock long ago, before it crashed, because I wouldn’t support M-Rat.
Now I’m thinking of buying a share, only because I want to be in the inevitable class-action lawsuit that is absolutely coming, blaming Musk for recklessly and predictably tanking the stock price, and the Board of Directors for not taking action and removing him from his job when he went out of his mind.
Could just buy puts
Puts don’t get you into the class action lawsuit.
“You can’t sell them until I’ve flooded the market with all my shares first!” -fElon, probably
That’s why he doesn’t want them to sell. If the price drops low enough, the banks will make him sell all of the shares that he used for collateral to purchase Twitter. Cashing in billions in shares will be the final nail in Tesla’s coffin.
I read something that estimated around $100-$120USD before he gets margin called so it’s still a way to go yet
Source on him using Tesla shares as loan collateral? That’s not really how loans work
I mean you usually need something to back your loan. Seems to me that is exactly how loans work.
I mean it’s totally possible to set up weird loans like this, but I’d love to see some information proving that’s what Musk did for Twitter
Again, this is not weird in upper echelon financial strategies. And a quick search with the terms “musk Twitter Tesla collateral” got me a link to this article. You only have to read the first sentence for corroboration. And if you don’t trust an article posted by NASDAQ for information about stocks, I dont think I can do more to help you.
That’s not how loans work for little people… It totally is how loans work for oligarchs because the money they get from the loan provider is tax free so no income tax.
Yep. It’s called “Buy, Borrow, Die” and is the main way billionaires avoid taxes. They hold all their stocks and never sell them. Use the stocks as collateral to take out massive low interest loans, and live off the tax free loans until they die. Banks are happy having Billionaires business and Billionaires are happy paying significantly less than they would on interest than they would on taxes for selling shares.
The protests won’t stop until the company is bankrupt. Sell em if you’ve got em.
