General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTesla is trading at $112.76 a share today.
When will the board do something about Musk?
BSdetect
(8,998 posts)Irish_Dem
(47,131 posts)SoCalDavidS
(9,998 posts)Somebody would buy the company long before it got to that level.
Irish_Dem
(47,131 posts)But who knows.
uncle ray
(3,156 posts)LiberalFighter
(50,950 posts)haele
(12,660 posts)That seems to be what various money folks are saying is going on. Plus everyone that put in shorts since Musk started screwing with Twitter is making bank right now.
I wouldn't be surprised if there isn't some stock manipulation going on right now. Musk may think he's immune because he still thinks he's the richest guy in the world, but he's starting to steal from other rich folks. They will take his cocky ass down as an object lesson.
Haele
Irish_Dem
(47,131 posts)haele
(12,660 posts)If he was shorting the (overvalued)Tesla stock since November/early December and his antics have driven the stock down faster than normal market forces would have, he could have been making three/four times profit than he would have on the Tesla stock if he had just kept his mouth shut and actually worked on improving Twitter than destroying it.
Tesla stock had been treated as a tech company rather than an auto company. With more EV competition coming on line, pretty soon it would have lost value as it loses it's tech company status and became just another niche auto company. Unfortunately for Tesla, Musk had been forcing too many shortcuts in the design, production and QA of the product itself that it could maintain a high-end niche market value, like, say, Mclaren or Bugatti. I see it going the way of the Edsel over the next ten years.
Pity-Tesla could have really been an innovative luxury standard for EVs.
Haele
Irish_Dem
(47,131 posts)And the house of cards is falling apart.
Joinfortmill
(14,432 posts)Joe Cool
(741 posts)that billionaires are geniuses and reinforced the idea that those who are rich due to Daddys money tend to be doofuses who believe they are smart.
Joinfortmill
(14,432 posts)patphil
(6,182 posts)That's over a 70% drop in 1 year.
A lot of TSLA shareholders are losing their shirts.
ProfessorGAC
(65,076 posts)But, hey there's 2 days for a full rebound!
The Twitter thing seems like an excuse to market correct. The market capitalization is still 4.5x assets or revenue.
Admittedly, revenues have grown dramatically in the last 2 years, but that 4.5x is still silly high for what amounts to a durable goods manufacturer.
Mr. Sparkle
(2,935 posts)People threw their money at musk because they believed in him and his mission, not anymore
sarcasmo
(23,968 posts)usonian
(9,814 posts)Teslas dirty little secret: Its net profit doesnt come from selling cars
By Chris Isidore, CNN Business
Updated 7:53 AM EST, Mon February 1, 2021
Its a lucrative business for Tesla bringing in $3.3 billion over the course of the last five years, nearly half of that in 2020 alone. The $1.6 billion in regulatory credits it received last year far outweighed Teslas net income of $721 million meaning Tesla would have otherwise posted a net loss in 2020.
These guys are losing money selling cars. Theyre making money selling credits. And the credits are going away, said Gordon Johnson of GLJ Research and one of the biggest bears on Tesla (TSLA) shares.
Makes a lot of money from "gubbmint" no? Rockets and such.
Clairvoyant? They couldn't have known about the clown act of 2022.
getagrip_already
(14,764 posts)Tesla does make some solar power gear and services, but not sure if that is profitable. So t's not just vehicles.
Torchlight
(3,341 posts)I watched with confused amusement when as recently as July this year, a brilliantly manufactured short squeeze convinced a lot of saps to invest back into Blockbuster in what was even then, a penny stock.
But hey, for those brilliant risk-takers in living in the immediacy of bragging-rights land, it's still a steal at ¢.15 a share.
LetMyPeopleVote
(145,321 posts)Johnny2X2X
(19,066 posts)Incredible. Maybe the largest evaporation of value in corporate history. Lost about $3/4 a Trillion in value in less than a year.
Musk became toxic at the worst possible time for Tesla. They were going to have a bumpy road with competition regardless, but hes just blown the whole company up with his personality.