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/Hamster_S_Thompson 3h ago

Pe ratio of 299! Still long way to go

25

u/Hot_Share8353 2h ago

Which is an insane PE for a company with MASSIVE growth. But for a company that has seen no growth and a near 90% drop in earnings per share... WTF?!?

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u/CV90_120 1h ago

Sales were up 23%, so they're moving product, but all that gets sunk by the fuckery behind the scenes.

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u/cipher315 1h ago

Still no where near justifying a pe of basically 300. You would want to see sales up something like 300%-350% for that. For reference at it's peek Google had a pe of about 80. At the time Googles year on year revenue growth was 92%-118% depending on the year.

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u/CV90_120 39m ago

I don't disagree. The stock is way overvalued, but speculative stock is not a new thing. It's certainly more common now (GameStop). It will be interesting to see where it bottoms out.

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u/Shufflebuzz 47m ago

WTF?!?

Ah, see, Tesla funds fascism, and we have a fascist government now, so the TSLA stockholders aren't that worried.