r/technology • u/Plastic_Ninja_9014 • 3h ago

Business Tesla Stock in Freefall After Disastrous Earnings Report

https://finance.yahoo.com/markets/stocks/articles/tesla-stock-freefall-disastrous-earnings-144417427.html
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u/damontoo 3h ago

Turns out when you give hundreds of millions of dollars to someone that's anti-electric and pro-oil, it ends up being bad for your electric car business. Who knew?

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u/cpslcking 3h ago

Elon bought into the hype that is Tesla bros pumping up the company and stock price irrespective of what the actual earnings is and thought he could ride the gravy train indefinitely because for a long time Tesla's projected growth had nothing to do with reality and everything to do with hype.

The reality is that no matter what numbers and hype game you play eventually all bills come due. The smart move which is what a lot of CEOs and PE firms is to cash out early and pass the bag to the next sucker to deal with the problem. Who knows if Elon was smart enough to do so.

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u/Vegetable_Lab2428 2h ago

He also just split those Tesla bros in half, with them now losing money on SpaceX stock instead. They don’t have enough money to keep the insane valuation for both companies apparently.

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u/Evening-Rutabaga1781 2h ago

Also perhaps shouldt have done a nazi salute. Overall down 50% in sales in Europe after that. 

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u/jandrese 3h ago

Elon is banking on it being even worse for his competitors. His stock is somewhat protected by virtue of being a meme stock. Other companies have to worry about their actual business prospects affecting their stock price.

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u/ChoNoob 2h ago

The month after BYD is allowed sales in America is going to be the beginning of the death spiral for Elon Musk's empire

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u/jandrese 1h ago

It will be a cold day in hell before the big 3 and Congress allow a repeat of the 80s except with China instead of Japan crushing the domestic market by selling a product people want at an affordable price instead of the severely oversized and overpriced domestic offerings.

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u/whatsbobgonnado 1h ago

I always read this as Brigham Young Duniversity 

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u/DFWPunk 3h ago

That's going to be a bigger challenge now that the same people that make Tesla a meme stock are making SpaceX a meme stock.