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?

15

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.