Tesla's latest decline could be one for the history books - $795 billion since Dec 17 or 53.7 percent
Tesla recently lost nearly 50% of its $1.5 trillion market. JPMorgan analysts don't know another car company that lost so much value so quickly.
Interesting to read that the article completely fails to explain why the sales drop in other parts of the world (than the US) and how that might be linked to his nazi salute or anything related to his political views.
If that is peak journalism, then its not surprising that analysts from the states get things wrong these days.
I mean, none of these people ever question Tesla's valuation in the first place. Why is the stock losing all of this value?
Maybe it's because Tesla sells a tiny number of units, cannot turn a profit without government subsidies, and produces by most accounts a really meh fleet of vehicles. There was no sane reason for it to be valued equally to the rest of the auto industry combined.
Even at half that value today, the number is beyond unjustifiable.
In trading we refer to tesla as a meme stock, or better, as shit beta. I have a theory a number of big interday players moved into memes when they started getting bigger, because the poor liquidity of the plays cause the market…. Because the people who sell the stock had to keep buying more stock to make the options they sold safer.
Tesla is up and down because it makes people money.
“So much for Objective Journalism. Don’t bother to look for it here–not under any byline of mine; or anyone else I can think of. With the possible exception of things like box scores, race results, and stock market tabulations, there is no such thing as Objective Journalism. The phrase itself is a pompous contradiction in terms.” ― Hunter S. Thompson, Fear and Loathing on the Campaign Trail '72
53.7percentsofar.jpg
Those are rookie numbers. Let's go further.
If I was a stockholder I would be suing the board for mismanagement--- we all know what the solution would be: get ride of #Musk.
From what I understand Musk and Larry Ellison are no longer the largest stock holders so for them not to get rid of him from management and the board is pure breech of fiduciary duty to the stockholders
It is merely back to pre-election levels. However it does look like it will keep declining.
Even before all of this, with that pay package. WTAF?
Apparently there's quite the revolt brewing for their AGM. They probably can't remove him before hand, because they need to turf the board here as well. It's been a long time since we've seen something like this, arguably if even ever? It's happened with lots of companies in the past, but not with one this high profile. At least that I can think of.
And it's still way overvalued. Market cap greater than Toyota? Good one
It can drop another 90% from here easily. Toyota's in better shape as a company these days.
click here to pre-order my upcoming book, published by Harvard Business Review, "Don't Be A Fucking Nazi and Other Secrets To Corporate Success"
When your Lemmy client shows you previews of the links...
I forgot not all clients do this and thought it was an anti-joke or something for a honest second.
i just had a moment of clarity - there's absolutely nothing stopping me from linking goatse instead of rickrolls on lemmy, the internet can finally heal.
Sounds like you’ve achieved goatse post-nut clarity.
Get rekt
That drop largely just cancels out the numbers since November. If it drops further then it indicates a general souring if market opnion.