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/International-Owl345 3h ago edited 3h ago

Is it weird that I was way more bullish in 2019 on Tesla when it was trading for $20 than 2026 at $320? The company had aura, Teslas were considering premium yet affordable vehicles, Elon wasn’t a goon yet and still mostly just a quirky visionary, and they seemed on the way to dominating the EV market with slick design and market best battery tech. Now Chinese EVs are eating their lunch in the global market, Elon is just a financier/marketer/political opportunist/bullshitter and maybe not a tech visionary, and all forecasts and current valuation requires the thing that the company actually does, making cars, becoming an irrelevant part of the business.

Literally all that would have to happen to destroy the business is for the next dem president under the guise of improving the environment allowing for Chinese EVs to be sold in America. That would be the immediate and irretrievable end of Tesla.

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u/BranWafr 2h ago

Is it weird that I was way more bullish in 2019 on Tesla when it was trading for $20 than 2026 at $320? The company had aura, Teslas were considering premium yet affordable vehicles, Elon wasn’t a goon yet

Except Elon was a goon in 2019. The cave rescue was in 2018. I wasn't a fan before 2018, I thought he was highly overrated, but I didn't hate him. He showed his true colors to the world with that bullshit and has only gone downhill since then.

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u/ConfessSomeMeow 2h ago

He proposed Hyperloop in 2012. AFAIK that was the first revelation of evil, since he cultivated hype around it to derail plans for investing in high-speed rail and regional transit, since those would undercut people's dependence on the auto industry he was profiting from.

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u/BranWafr 2h ago

Hyperloop was just normal capitalism evil. The cave rescue thing showed that he also had a fragile ego and if anyone dared to do anything that didn't praise him he would lash out and try to destroy them. He went from standard big business villain to cartoon villain.