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Just a quick summary:
How anyone can still hold on to Tesla stock is beyond me.
Busted for attempting fraud for EV rebates in Canada at numbers not physically possible and being stupid and arrogant enough to think he’d get away with it
Musk believes he's smarter than everyone else. So think of how stupid Musk is, then imagine how dumb he must believe everyone else is in order for him to be the smartest man alive.
Have/will they face any repercussions for this though?
Actually, because it’s not a fraudulent oligarchy, Transport Canada is actually investigating
https://electrek.co/2025/03/07/tesla-made-a-suspicious-number-of-rebate-requests-on-last-days-of-canadian-ev-incentive/
And they pay no dividends.
and the rebate fraud in canada.
Is been known for years that Tesla was extremely overvalued and a crash was eventually going to happen. People hating melon musk might be helping, but it’s not fully why, and that is good. It’s a shit company all around. My fear is given his current position with Trump, this could be end up working out for him and other oligarchs and hurting a lot of regular investors.
There are good indications that a significant part of the overvaluation was due to Musk hype, so clearly people hating on Musk will have an outsized impact compared to the public faces of other corporations. I'd still say that's a good reason for the stock to drop. Now, add on massive recalls to the truck designed in Minecraft, and lackluster sales for a variety of reasons (including Musk hate). It's not a good time to own Tesla.
You left out "Incredibly high P/E"
What I love is that it's a damned if you do, damned if you don't situation.
The whole reason it has such an absurd valuation, 20x higher than a normal car company, is that they convinced investors they weren't just a boring car company. They had a visionary CEO who was going to keep innovating and growing the company in ways that normal car companies could never replicate. He was Tony Stark! Now they're in a situation where it's that same CEO who's dragging them down. His politics is tanking their reputation, so it's tanking their stock value.
The problem is, if they dump him as CEO, there's absolutely no way to justify the absurd P/E ratio. They can't just go out and appoint another supposed "Tony Stark" to run the company. That means they stick with him and their stock price tanks because he's one of the most hated people in the world. Or, they ditch him and their stock price tanks because with their visionary CEO gone, the jig is up and there's clearly no way to justify a P/E ratio of 100 when Toyota has a P/E ratio of approximately 7.
And for Elon, half his wealth is Tesla stock, and he borrowed against that Tesla stock to fund his Twitter purchase. If Tesla tanks, it all could come crashing down around him. There's no escape for him either. He can't realistically even sell his stock because as soon as he started trying to do that it would signal his lack of confidence and cause the value to plummet.
It's just annoying that Tesla's stock isn't crashing faster. So many people who don't believe in the sunk cost fallacy, and are desperately lying to themselves rather than cashing out before the bubble bursts.
My Rivian and Lucid stocks were doing great before Trump fucked everything up.
Bail while you can. Nobody is going to buy American for a generation.
Maybe internationally, but people in the US are itching to get good non-Tesla EVs and some of them aren't stoked about Kia and Hyundai, unfortunately.
I will rejoice the day I’m allowed to buy a BYD.
I'm happy since years with Renault - first we got a kinda old Megane, that really was awesome and my wife really had her heart in it
So, when it was time to sell, because repairs would have cost us more than it's value, we were lucky that they brought out a Megane E-Tech (EV) and it just really is great
It could have some higher charging speeds, but it drives like a dream and the power of the e motor is nothing to compare with (well, besides other EVs)
It's a rather small car, but it's perfect for the city and we can still fit our snowboard/skis for such trips.
And shortly after we got it, we were driving on a highway with a 100km/h in a tunnel. Besides us was a tuned up Porsche and naturally we had a little race after the speed limit was lifted.
The Porsche driver couldn't keep up with the acceleration and you could really see his face getting red and more red, because his expensive tuned Porsche couldn't keep up with our efficient city cruiser
It's also great to get by cyclist in the city, because you instantly have the torque you need, and don't need to shift back and hope to hit the right spot of the engine.
There is pretty much no latency and...we just fucking fell in love with it
It's a really great car and I don't know, why Renaults seem to be not available in the USA
I will rejoice when I get my Aptera or Telo. Or Rivian R3.
I think the writing on the wall is that the US stock market is going in a direction. If you may need that money in the next decade or ever it may be an excellent idea to diversify.
This is not financial advice but the US exchange is highly volatile at the moment.
I agree with you. As well, if you want to squeeze out a little more profit, transferring usd to CAD while the spread is the widest is probably a good move.
I'm not a personal advisor though.
Don't forget usa commerce secretary howard lutnick pimping tesla stock on fox news (last week or something?)
Oh right, what a sad spectacle that was.
Life experience.
We have seen the crowd turn against someone, hating someone, many times. It always blows over. Thats why we dont talk about what happened a year ago anymore.
Buying the stock now will pay off very much in a year from now, unless Tesla goes bankrupt, which I doubt. Musk has powerful friends.
I fact, I think it hit bottom a few days ago, at 232 dollars. It has recovered to 250 in the last few days.
Even if it does recover like you say, you’re cool with gifting money to an actual nazi who’s dismantling the US government?
I guess this is a good argument. I think elon is a child with mental issues. And obviously he is part of destroying what America stands for in the world.
I dont own Tesla stock at the moment, but when it starts going up, tons of people will jump on that train just to make money. Maybe you too.
So: "I don't have a moral compass when it comes to financial invesments and assume you don't either."?
Yeah I dont pick investments based on their morality. I believe thats a losing strategy.
Yeah, I mean, what's the worst that could happen? looks around
You do realise he is using his stock as collateral for tax free loans. You are funding his nazism by buying his stock. you are helping him avoid paying taxes.
While he is actively dismantling the government we all rely on it will not just "blow over". Also, Tesla as a company is on a downward track no matter what. What happens to a car company when no one buys their cars anymore?
It goes down in value on the stock market for a while. Revenue reports will show less profits.
But all this is temporary.
What exactly do you think gives value to a company's stock?
Tesla has been losing ground for a while. They were one of the first mass produced EVs with charging infrastructure, but now what makes them special? They have positioned themselves as a software/ai company but it was just a way to boost stock price. They don't have full self driving (fsd) that's been promised as next year for the past 10 years. On top of it they only rely on cameras for fsd and no lidar systems so I don't think they'll ever get full clearance outside the US.
So even if they ditch Elon I'm not sure if the sentiment can be brought back. Sure they may not go bankrupt but the stock should fall in line with other auto manufacturing companies.
Nothing makes them special today, but things can quickly change. Lemmy has such a young audience so many here dont seem to get that, but lets see where it is in a year.
I wish Lemmy would have the "remind me in a year" function....
Lemmy actually skews older, and also there is a remindme bot on Mastodon that works on Lemmy.
If you have a moment I would love to talk to you about a rich investment opportunity best know as artisanal gourds. Not since Blockbuster has the soil been so rich and the climate been so perfect for artisanal gourds. If you act now I have a bridge that is heavily discounted we can discuss.
I'm sorry but we only want fantastical legumes. Take your gourds elsewhere.
And we all know that bridge has a Muskelon troll living under it.
Ill pass on this fantastic one time offer. :)
There have been multiple companies who have gone through public image issues that have survived, but never regained their original status in the market.
The thing that it has been with Tesla is the company value never made sense and it was driven by hype for Elon and his "genius vision". With that facade going away the stock should continue to adjust to closer to other comparable car companies. Even recently they had a trailing P/E ratio of 121. That's crazy with only so few things in their product pipeline that we know about.
So the question now is how does the new public perception impact any new products they launch in the near term and how do they recover the confidence of the consumers? Not saying that it can't be done.
So... How much GameStop stock are you still holding? 🤭
Haha :) I actually missed that train completely. I remember doing minor day trading but not being successful in that one.
@[email protected] 1 year
It has started already: https://www.tradingview.com/news/tradingview:67fc48517094b:0-tsla-tesla-stock-just-made-a-roaring-comeback-up-12-but-can-it-sustain-the-charge/
@arken Ok, I will remind you on Monday Mar 23, 2026 at 1:41 PM UTC.
Ok message me then, its a good chance Tesla is up 50% from its current value. If not, we can have good laugh about it.
I'm primarily going to hold you to this statement:
The bad will generated in the past few months won't blow over for Musk. This also means that, for example, if Tesla gets rid of Musk in the year to come, then their value in a year doesn't really mean much to this argument. :) See you in March 2026.
Im excited already to see where we will be. Hopefully not in the middle of a world war, then none of this matters...
See you then!
I never would have thought that Jim Cramer was a Lemmy user.
Congrats, you hit the trifecta!