I read a piece by a researcher arguing that Tesla was a ludicrously, mystifyingly overvalued stock something like eight years and the better part of one *trillion* dollars in market cap ago - ThreadSky

petreraleigh.bsky.social • 11 days ago

I read a piece by a researcher arguing that Tesla was a ludicrously, mystifyingly overvalued stock something like eight years and the better part of one *trillion* dollars in market cap ago

Reposted from Laura Helmuth

Tesla's stock is ridiculously overvalued, and even a modest consumer boycott could tank the company, which accounts for the majority of Elon Musk's wealth.
The divestment movement weakened apartheid South Africa. Let's do that again. slate.com/business/202...

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lalonguedurayofsun.bsky.social•11 days ago

they sell more less as many cars as Audi but have a $1 trillion market cap vs Audi at $83 billion. insanely overvalued

petreraleigh.bsky.social•11 days ago

We are many, many years into the financialization of the economy and I think a lot of people still don't recognize the degree to which all of this is fake and Elon Musk is the richest man alive 100% due to ideologically driven speculation rather than literally any feature of his business

stevefelix.com•11 days ago

The people teasing that the business fundamentals will take 'em all down are approaching grifter status. It's like waiting for Robert Mueller

garbagefriend.bsky.social•10 days ago

Not going to let the California Air Resource Board off the hook for underwriting the whole endeavor with the ridiculous "zero emission vehicle" carbon credits system

poopooturnip.bsky.social•11 days ago

It's all nerds working with ninth-derivative constructs that tell them ethics require more orphans for the crusher

jxsgrma.bsky.social•10 days ago

His is rich off our government subsidies. Plain and simple. He needs tongo back to South Africa

jnewhouse.bsky.social•11 days ago

I think being the major owner of a company that makes billions of dollars in profit each year has a claim to wealth in a way that is strange to dismiss as "speculation".

I'd rather figure out how to build a better system

miikeebee.bsky.social•11 days ago

40% of those billions are from selling carbon credits to other car manufacturers.
Those profits are built on what are essentially government subsidies and vibes.
It’s not just ideological-driven speculation. It’s a damn cult

jnewhouse.bsky.social•11 days ago

Where did that 40% number come from? Tesla is just a car company, the OP article says 85%, and some light searching shows something similar. In 2017 I think there was a reasonable case that Tesla would never turn a profit, not anymore. Elon is a pox on humanity, tbc
https://www.statista.com/statistics/314741/revenue-of-tesla-by-segment/

petreraleigh.bsky.social•10 days ago

Are there any other car companies valued at one trillion dollars? Lmao

miikeebee.bsky.social•11 days ago

The 40% figure is from several articles for 2024 earnings (including this one from BI). From my understanding, it’s a mixture of the Californian ZEV program (carbon credits) and federal EV credits. https://www.businessinsider.com/tesla-profit-could-shrink-under-trump-policies-jpmorgan-2025-1

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