Tesla stock to close out worst year ever with a 65% loss in 2022, wiping out more than $700 billion

[Yo_Mama_Been_Loggin]

Tesla stock ticked up Friday, the last trading day of 2022, but is on track to close out its worst year in the company's history.

Shares have lost about 65% from the start of the year, amounting to a loss of more than $700 billion in market value.

Investors have sounded the alarm on slowing demand and vehicle production, a sluggish market share in China, Fed rate hikes, and CEO Elon Musk's takeover of Twitter.

The Tesla stock sell-off has far outpaced the losses of major indices including the S&P 500 and the tech-heavy Nasdaq, which are down 19% and 33%, respectively, for the year.

https://www.msn.com/en-us/autos/news/tesla-stock-to-close-out-worst-year-ever-with-a-65-loss-in-2022-wiping-out-more-than-700-billion-in-market-cap/ar-AA15PlNM

But Eloon's playing with his Twitter toy.

[republianmushroom]

1. Tsk Tsk, Elon

[ProfessorGAC]

2. Still Overvalued

Still nearly 4x assets. They are not a tech company, the potential of the company is clearer, and they are essentially a manufacturer of high tech durable goods.
At least the P/E looks better!

[Shermann]

3. I guess it depends how you define "tech company"

They develop significant hardware and software technology, either of which would meet my definition.

[ProfessorGAC]

4. Fair Enough

But, the potential for that is fairly well realized as well.
Tech stocks are overvalued based upon potential. Often, that potential is barely realized to the degree of stock valuation.
Tesla is at a stage where the fundamentals kick in. And much of their tech development is to operate their own hardware. A stock valuation 4x the asset base makes no sense.
We'll just have to agree to disagree on this. I can't accept your definition, because: I developed a unique molecule for ultralow toxicity disinfecting. That doesn't make the company I worked for a tech company despite the substantial technology involved. To me, they're a manufacturing concern.

[Captain Zero]

5. Wouldn't a car company like Maxwell

go out of business with this much of a loss?