“Oh no, the consequences of my actions!”
😭🎻
https://www.marinelink.com/news/elon-musks-firm-buys-two-offshore-rigs-484690
https://www.npr.org/2024/09/11/nx-s1-5088134/elon-musk-ai-xai-supercomputer-memphis-pollution
🎻😭
I will say though, I’ve been suspicious he’s had long standing plans to just dump Tesla at some point in the near future anyway. I’m hopeful the point he was planning to jump ship and sell off his stock has gotten beyond his control and he can’t do it without majorly fucking himself over.
Aside from everything else he’s done to get deeply involved in the oil and gas industry, what made me really suspicious was when DOGE removed all EV charging stations from federal buildings for not being “mission critical.”
If he thinks civil war is necessary but doesn’t think corporations will be casualties… then what does he define as civil war? Where less important things die? you know, those umm… soft gelatinous things. People, yes people are expendable.
This soft and gelatinous thing looks forward to a place to expend his umm, anger and frustration.
I’m still not convinced that isn’t just insurance fraud to try to recoup some money for junky cars no one wants while pretending he’s a political victim.
The best thing about this is that Tesla is massively overvalued. Like, the stock price is more than 20x what it should be based on Tesla’s earnings.
If Tesla had a reasonable value, then hedge fund managers and other rich people would probably be buying it while it was temporarily down and getting rich as it went back up. But, with it so insanely overvalued, it’s much more likely they’ll short it or buy put options and hope to get rich when it finally crashes.
Relatively speaking, Tesla is far less overvalued than in the past.
At one point their market cap exceeded every other automaker in the world COMBINED.
That might make sense if they were making unprecedented loads of money but of course they got trounced in sales compared to Toyota then and now.
Yes, it was at something like 30x overvalued, now it’s only 20x overvalued.
Glad you mentioned Toyota. Their P/E ratio is approximately 7. Tesla is approximately 100. If Tesla were a well run car company with a lot of good vehicles and an anonymous CEO who nobody hates, the fair value of their stock would be about $14 per share. It’s currently $236 per share.
Someone is going to make mountains of money shorting Tesla stock, but unfortunately it’s going to be someone rich. The market can remain irrational much longer than normal people can remain solvent. Some rich dude is going to take the risk though and make out like a bandit.
NOOOOO don’t look at P/E ratios (the auto sector has always had extraordinarily low P/E ratios) you have to look at relative PEG ratios!
At least that was the copium years ago. Now that their sales growth has petered out globally (even before all of the President Musk backlash) and China has free-money’d their way to a technological advantage for EVs I don’t even understand it anymore. The other automakers are either caught up or rapidly approaching and the thing I’ve been saying for years (PHEVs are superior to BEVs for most people) is being proven true.
Before I called it hysteria and FOMO and blind optimism but now I just don’t get it.
