Tesla stock continues crashing

[moonshinegnomie]

down another $15 a share today. now under 110
down 20% in a week,40% ina month and 70% this year.

i hope it keeps falling and the remaining shareholders boot musk to the curb

[redstateblues]

1. Spell check

[bucolic_frolic]

2. I posted 10 days ago to look for $99

because that was the July '20 blast off candle from resistance. But you know, prediction is not an exact science.

[drray23]

3. interestingly enough, its a strong buy for most analysts.

So they think the company will survive and investors will take this opportunity to buy low sending it upwards. We shall see.

[moonshinegnomie]

5. analysts are always very slow to revise their calls

and are in general pretty shitty . they are always loath to downgrade a stock and rarely issue a sell recommendation

[underpants]

8. Read last week here that UAE or Saudis may be working with Musk

To drive down the price to take it private.

[PortTack]

9. T musk already took it private

[ProfessorGAC]

15. That Was Twitter

Tesla is still a publicly traded stock. It's a grossly overvalued still with a P/E of 33.6. That's about 2.5x that of peers in complex durable goods. By contrast, if we think of Tesla as a car company (the thing it's most known for), Ford has a P/E of 7. And Ford is about 3x better in net income.

[D_Master81]

16. I remember

I remember when Tesla’s P/E ratio was north of 1000. At that point Tesla was the S&P’s version of a crypto.

[Celerity]

17. ...

[PortTack]

21. It was..thought I had self deleted...obviously didn't!

[ProfessorGAC]

14. They've Got A Way To Go For That Plan

They still have an overvalued market cap of >$340 billion. Against roughly $75 in assets. Taking it private as anything over $35 is a fool's buy.

[ZonkerHarris]

20. Why would Musk want to sell to the Saudi's for cheap? Plus he has a lot of stock as collateral for

Twitter.
As the stock goes down he has to pledge more stock to cover the Twitter debt.
Intentionally driving the stock down is not a sane plan for him.

[Joinfortmill]

4. Maybe that's why Musk recently did a big sell off

[moonshinegnomie]

6. current p/e is still 33

gm is 6 and toyota is 12

[genxlib]

12. This is the reality

At face value, it still seems way over priced compared to the traditional car companies.

Some of that is certainly projection to the upside for electric vehicles. But some of it is clearly just reputation and cache. Which is why it is so incredibly stupid for Elon to show his ass the way he has

[oioioi]

19. Cannot compete at scale. Quality problems. Softening demand. Look to $30-40 next year.

Target demographic repelled by Musk stench.

[tanyev]

7. Somebody turned on the Autopilot?

[BlueWaveNeverEnd]

11. Tesla shares dropped 11% and became the worst-performing tech stock of 2022

https://www.dailymail.co.uk/news/article-11577719/Tesla-stock-slumps-11-day-Elon-Musks-car-firm-overtakes-Meta.html

[panader0]

13. Musk shorted Tesla stock and then proceded by his antics to drive the price down.

If that is revealed to be true, that could be stock manipulation (?). Wouldn't that be illegal? I know nothing of such things,
but, like tfg, I would put nothing past Musk. And Musk would perhaps make a handsome profit if he
shorted a big chunk of stock.

[LetMyPeopleVote]

18. That after hours trading is brutal. 106.96 Tesla

Link to tweet

[former9thward]

22. The stock is up to 123 now.

[ProfessorGAC]

23. And?

This seems like a pointless, rubbing noses post, given that the stock.clised 69.2% down for the year.
69+% is so much better than 73%.
Closing down 69% for the year isn't the triumph you seem to think.

[former9thward]

24. His main EV competitors are down 80% this year.

For some reason nobody notes that.

[Demovictory9]

25. Wow