9 ms·

Tesla shares plunge 14%, head for worst day in five years

113 points by r721 2y ago

r721 2y ago
https://finance.yahoo.com/quote/TSLA/ https://finance.yahoo.com/quote/TSLA/
- MilnerRoute 2y ago
  While today's 14% drop sounds bad, that's really just giving up part of the big spike they got after the election. Another way to say it? "Tesla's shares haven't been this low since... October." UPDATED COMMENT: On the other hand, that spike in November was so huge, CNBC is also correct when they say... Since peaking at $479.86 on Dec. 17, Tesla shares have lost over 50% of their value, wiping out over $800 billion in market cap. https://www.cnbc.com/2025/03/10/tesla-shares-plunge-14percent-head-for-worst-day-in-five-years.html https://www.cnbc.com/2025/03/10/tesla-shares-plunge-14percen... Ironically, CNBC thinks Tesla's drop is actually tied to actions taken by the Trump administration: The downdraft in Tesla’s stock on Monday was tied to uncertainty surrounding President Donald Trump’s plans on tariffs. Canada and Mexico are key markets for automotive suppliers, and increased tariffs, with the potential for a trade war, will likely impact production and lead to higher prices.
  - MBCook 2y ago
    But is there any reason to think it would have happened this fast (or at all) if not for his behavior/persona? Isn’t the new model Y out? Shouldn’t that boost things? Sales are reportedly tanking all over the globe. This isn’t a market correction where the price adjusts despite reasonable fundamentals. Something has gone seriously wrong and is seriously effecting things. And we all know who that something is.
    - leesec 2y ago
      No, this is all your assumption lol. Sales are "tanking" due to the model Y rollout, which was best selling car in the world last 2 years at roughly double the cost of the 2nd best selling car.
      - MBCook 2y ago
        I’ve seen other people say that and frankly I’m skeptical. Tesla is firmly past the “techie only“ crowd. I suspect the majority of their sales are the kind of “normal“ people who aren’t looking to wait for the next refresh and just want to buy a car right now cause they need one. Are some people waiting for the refresh to be available to them? Sure. Enough to take sales everywhere? I seriously doubt it. I suspect the vast majority of their buyers wouldn’t even know a refresh was coming. But we’ll find out pretty fast won’t we. If sales pick up back to normal pretty quickly then maybe you’re right. But if they keep slumping further and further then the refresh argument will start to lose a lot of credibility.
        leesec 2y ago
        They've already picked back up, I check the numbers weekly
  - VBprogrammer 2y ago
    I hear this a lot but I've not heard any coherent explanation for how Musk's actions don't hurt the brand. Obviously as a billionaire being a big fan of the Republican party would hardly be a surprise, he could have supported them, even donated large sums to them without any significant backlash. But becoming a key part of the administration instantly alienates half of the country, and by extension the customer base. And that is before you get into his "Roman salute" antics.
    - acdha 2y ago
      It’s especially bad when you think about the people who bought Teslas early. I’m sure the CEO of Toyota has views which would annoy many Prius owners but they’ve been wise enough to make it easy for prospective owners to never once even think about them, whereas Musk seems determined to make it impossible to ignore.
      - VBprogrammer 2y ago
        I mean even if you just look at it from the point of view that having Musk as your "ideas guy" is a pretty good proxy for success. How can the fact that he's spending most of his time as some kind of political missionary rather than on developing the business be a positive thing?
  - verzali 2y ago
    If I look back to October 2021 it has lost value. Tsla stock was already struggling before the election compared to previous years. This feels like cope.
  - culi 2y ago
    The S&P500 has increased since the election. Tesla is now down nearly 10% since election day's valuation.
throwaway5752 2y ago
It's shocking. You do everything possible to alienate your core buying demographic, and they stop buying your product. And maybe doing so particularly in markets that provided badly needed and nearly 100% margin carbon credits to sell to other automakers was a particularly bad idea. I'm sure self-driving cars and humanoid robots will be here any day now, though, just like the semi, or the previous self-driving cars. I'm only surprised TSLA has held up as well as it has.
- b0sk 2y ago
  Michael Jordan famously said "Republicans buy sneakers too". This guy doesn't care about any of this and he's still the right guy to steer Tesla in the correct direction? Mind boggling.
  - hn_acc1 2y ago
    Not when they've been promoted as "woke" for years.. There's no way there's huge pent-up unmet demand for EVs in red states..
  - bbqfog 2y ago
    The fundamentals of TSLA disagree with you. The price is 100% based on hype, so you can expect a full reduction when the hype man become unpalatable.
  - heartbreak 2y ago
    The correct application of this quote would be “Democrats buy cars too,” so the problem with the Tesla brand is more apparent.
dabinat 2y ago
The question is: what price does the stock have to reach for shareholders to kick out the board and nominate a board that will fire Musk?
- SonOfKyuss 2y ago
  I think we have quite a ways to go before that. The price is still pumped pretty high compared to what it would be without the Musk hype that got it to where it is. I bet we’d see a 30-40% drop in share price if they fired him now. They’re in a no-win situation
  - yoelhacks 2y ago
    Maybe. Current prices certainly include probability that Tesla is able to pull off major transformation into more than just a car manufacturer (batteries, supercharge network, self-driving software, etc). The implicit assumption is that Musk is helpful for that - which would certainly have been true some years ago. Getting rid of him would be an admission that the loftiest dreams won't happen as fast as some would like, but doesn't necessarily mean they're out of the picture.
    - _DeadFred_ 2y ago
      Panasonic makes the actual batteries at Gigafactory on Panasonic owned/operated lines that happen to lease space inside a Tesla building. https://en.wikipedia.org/wiki/Gigafactory_Nevada#Operations https://en.wikipedia.org/wiki/Gigafactory_Nevada#Operations
- aswanson 2y ago
  It's still overpriced at least 5x. They still have time to cash out.
- gizmo686 2y ago
  At this point, there probably is not any price for at least the next 4 years. Angering Musk like that would risk retaliation against both Tesla, and any other company that the people who organized such a firing happens to own.
biophysboy 2y ago
As someone working at the NIH, today has given me more schadenfreude than I have ever experienced in my lifetime. Today's 14% drop, the X outage, cancelled starlink contracts, protests at dealerships - the wax on his wings cannot melt fast enough for me.
- leesec 2y ago
  [flagged]
  - deleted 2y ago
    [deleted]
  - mersenne 2y ago
    OP didn’t claim to have done anything.
- Dig1t 2y ago
  Musk on the X outage: >There was (still is) a massive cyberattack against X. >We get attacked every day, but this was done with a lot of resources. Either a large, coordinated group and/or a country is involved. https://x.com/elonmusk/status/1899149509407473825 https://x.com/elonmusk/status/1899149509407473825
  - sundaeofshock 2y ago
    Elon Musk says a lot of things. Is it really a cyberattack, or is the site just experiencing an outage due to an over-worked and understaffed team who were told to move fast and break things?
    - moralestapia 2y ago
      >is the site just experiencing an outage due to an over-worked and understaffed team who were told to move fast and break things? Doubt it. If anything they've shown to be a phenomenal team. I would believe the cyberattack claim.
legitster 2y ago
Tesla is still up compared to where it was a year ago. If you look at their chart, there was a massive election bump. An investor trying to be savvy maybe would have assumed his businesses would benefit from proximity to power. Now that it's pretty clear he is thoroughly disinterested and distracted from his businesses. Does Musk even want to be CEO anymore? He hasn't seemed to care about Tesla ever since he had to settle with the SEC. He got his massive payout that he will be unlikely to repeat. Ostensibly he is only CEO on paper because the magic affect his name had on stocks in the past.
- 9283409232 2y ago
  >Does Musk even want to be CEO anymore? He hasn't seemed to care about Tesla ever since he had to settle with the SEC He recently got a contract with the State Department for 400 million to make armored Cybertrucks so he is still involved with Tesla. Musk wants to do whatever he wants without other people saying whether he can or can't. Every agency on his DOGE hit list was an agency that was investigating him. I'm sure he wants to be involved with SpaceX, Starlink, Tesla but these pesky things called regulations and investigations keep getting in his way so he has decided to tear it all down.
  - happyopossum 2y ago
    > He recently got a contract with the State Department for 400 million to make armored Cybertrucks That doesn't appear to be the case - there (was) an entry on a spreadsheet about 'Armored Teslas' but Musk claims to know nothing about it, the State Department has stated it was just an estimate for a proposal they are no longer pursuing, and the ledger entry has been removed. So no, not a "contract for armored Cybertrucks" [0]https://www.npr.org/2025/02/24/nx-s1-5305269/tesla-state-department-elon-musk-trump https://www.npr.org/2025/02/24/nx-s1-5305269/tesla-state-dep...
    - culi 2y ago
      Tesla has gotten more than $13 billion in government contracts in the past five years. There's no reason to think this rate will decrease. At least not in the next 4 years
deleted 2y ago
[deleted]
deleted 2y ago
[deleted]
WhereIsTheTruth 2y ago
Their goal is to take it private, so yeah, pretty much planed
- buffington 2y ago
  Do you have any links to where this plan is described?
  - WhereIsTheTruth 2y ago
    https://x.com/elonmusk/status/1026872652290379776 https://x.com/elonmusk/status/1026872652290379776
    - culi 2y ago
      x seems to be down lol
      - _DeadFred_ 2y ago
        3 hours later. Still down.
        cozzyd 2y ago
        Surprised there's no fail heil.
- hn_acc1 2y ago
  Let me guess - funding secured?
  - deleted 2y ago
    [deleted]
heisenbit 2y ago
Brand damaged beyond repair. First mass production advantage lost. New buyers dried up and possibly more important previous buyers experiencing a devaluation of their car which will make them think twice. Less integrated than Chinese manufacturers when it comes to batteries. Model pipeline stale, last launch was not a bulletproof hit. Less able to support vehicles in the field than established car companies. FSD based primarily on vision a strategic and possibly deadly mistake. Hostile takeover of the US government regulator a really hard to quantify legal risk. What is there left to like.
- buffington 2y ago
  I think ousting Musk would be a marketing win for Tesla, and likely the only path to staying in business at this point. Most people I talk to about Tesla, some of whom were diehard Musk-can-do-no-wrong fans as recently as last year, tend to share similar sentiments with me today.
  - TheAlchemist 2y ago
    The problem, and it's a big one, is that getting rid of Musk, would mean that the stock craters 90% at least. If that happens, Tesla will be sued into oblivion once Musk is gone and everybody realizes that they are nowhere near rolling out real FSD and Optimus. One thing is sure - they are effectively done in EU, and the damage seems to be very substantial in the US too. In China, they just got outcompeted by cheaper and better alternatives. Let's see how a carmaker with installed capacity which exceeds sales by a factor of 3 or 4 manages to survive.
    - SirFatty 2y ago
      "getting rid of Musk, would mean that the stock craters 90% at least." Come on, that's a absurd statement.
      - TheAlchemist 2y ago
        Is it ? Can you argue a bit here ? From my perspective, Tesla is at >100 P/E ratio based on last year. Next year they will probably be loosing money given how sales are cratering everywhere. Some people see it as a software company - in reality it's a carmaker, employing >100k people. These people will have nothing to do next year for half of their time. Tesla fans themselves say that it's not longer a car company - it's AI / Robots company. Does this view will still stand without Elon ?
jeffreportmill1 2y ago
It seems obvious that elon hasn't even showed up for work in years. His only real tesla-related effort has been to try to strong-arm an illegal 50B pay package. The board should be replaced for negligence and he should be fired for malfeasance and fraud. I'll bet the stock would jump 10%+ overnight. The idea that he's the richest man in the world is a joke. Half his rapidly declining wealth is based on SpaceX, a "360B" company with no profit and < 12B in revenue that blows up and burns up its own products more often than not.
- lawn 2y ago
  Don't forget designing the Cybertruck and nixing a cheap car in favor of robotaxis.
- _DeadFred_ 2y ago
  Elon asked for $50 billion in pay. Tesla's TOTAL lifetime earnings as a company is $35.2 billion. $10 billion of that is selling 'credits'. $600 million of that was Bitcoin gains. Tesla is a 'battery company' but at Gigafactory Panasonic makes batteries on Panasonic owned/operated lines that just lease space from Tesla. Yet somehow this is a 'real' company.
- skissane 2y ago
  > that blows up and burns up its own products more often than not This false. SpaceX’s current product is Falcon 9/Heavy which “blows up and burns up” very rarely. Starship isn’t actually a product yet, it is an R&D program. If 50% of the test flights on an R&D program fail, that doesn’t tell us anything about the reliability of the finished commercial product. Absolute worst case scenario, Starship never works and is cancelled-SpaceX will have wasted billions but still have a market-dominating product with Falcon. And, despite the recent setbacks, it seems unlikely the worst case scenario will actually happen. More likely outcome is Starship is delayed and burns up billions more in R&D but eventually they get it to work as promised.
jmclnx 2y ago
Lets hope this will discourage many other oligarchs from tying themselves to one political party. There was a time these people kept quiet when their person became president, all we need now is a law that lists who contributed to which politician. That means unraveling companies owned by other companies.
moogly 2y ago
It's correcting. Still a long way to go to reflect reality.
xnx 2y ago
The recent drop has finally brought TSLA down to the pre-election level where it was still ridiculously overpriced. Tesla does not have self-driving, and there aren't signs that they're even close.
6510 2y ago
The only relevant thing to me is that they un-killed the electric car. Now everyone and their mum is making them. There are thousands of innovative ideas for cars that are scary to implement. Is the rotary engine a success now? I don't even know. This seems fun: https://digital-library.theiet.org/doi/10.1049/iet-its.2018.5014 https://digital-library.theiet.org/doi/10.1049/iet-its.2018.... Have the vehicles build a virtual environment together. Even if it is crude, it should be possible to measure space behind you and break automatically if the car in front of you suddenly stops. It seems much easier and more robust to build a virtual environment using road side cameras compared to just the vehicle pov. There is enough location data from accidents. Tickets for speeding can come out of a prepaid account in real time displayed on the dash. No-claim insurance seem rather crude. If I was an insurance company I'd much rather see years of decent driving data. What other fun stuff is there from an IT perspective?
josefritzishere 2y ago
Normally at some point the CEO would be answerable to their board of directors for such a dismal performance. Shareholder primacy is paramount.
spwa4 2y ago
Tesla shares are now down over 55% in USD terms from peak, and easily crossing 60% down in other currencies (Trump isn't just tanking the stock market, also the USD. Hope you aren't planning any holidays any time soon)
- Marsymars 2y ago
  Hey you can come holiday in Canada, Trump's tanking the CAD too.
tim333 2y ago
Still a $700bn market cap compared with $300bn for Toyota and something like $140bn for BYD so there's some room to go down more.
Ferret7446 2y ago
I'm rather surprised at how many people there are talking about this seriously. I hope you aren't all role-playing as day traders. Short term price fluctuations are totally normal and have no effect on long term trends. This is clearly a response to the recent terrorism (politically motivated violence and vandalism) and will have no long term effect (unless you anticipate such terrorism to become legalized). (I suppose I should point out that the price spike around the elections is also short term. You should ignore both and focus on fundamentals.)
- pwrstick 2y ago
  You don’t think the cratering sales numbers have anything to do with it?

113 points by r721 2y ago

r721 2y ago

https://finance.yahoo.com/quote/TSLA/ https://finance.yahoo.com/quote/TSLA/

MilnerRoute 2y ago
While today's 14% drop sounds bad, that's really just giving up part of the big spike they got after the election. Another way to say it? "Tesla's shares haven't been this low since... October." UPDATED COMMENT: On the other hand, that spike in November was so huge, CNBC is also correct when they say... Since peaking at $479.86 on Dec. 17, Tesla shares have lost over 50% of their value, wiping out over $800 billion in market cap. https://www.cnbc.com/2025/03/10/tesla-shares-plunge-14percent-head-for-worst-day-in-five-years.html https://www.cnbc.com/2025/03/10/tesla-shares-plunge-14percen... Ironically, CNBC thinks Tesla's drop is actually tied to actions taken by the Trump administration: The downdraft in Tesla’s stock on Monday was tied to uncertainty surrounding President Donald Trump’s plans on tariffs. Canada and Mexico are key markets for automotive suppliers, and increased tariffs, with the potential for a trade war, will likely impact production and lead to higher prices.
- MBCook 2y ago
  But is there any reason to think it would have happened this fast (or at all) if not for his behavior/persona? Isn’t the new model Y out? Shouldn’t that boost things? Sales are reportedly tanking all over the globe. This isn’t a market correction where the price adjusts despite reasonable fundamentals. Something has gone seriously wrong and is seriously effecting things. And we all know who that something is.
  - leesec 2y ago
    No, this is all your assumption lol. Sales are "tanking" due to the model Y rollout, which was best selling car in the world last 2 years at roughly double the cost of the 2nd best selling car.
    - MBCook 2y ago
      I’ve seen other people say that and frankly I’m skeptical. Tesla is firmly past the “techie only“ crowd. I suspect the majority of their sales are the kind of “normal“ people who aren’t looking to wait for the next refresh and just want to buy a car right now cause they need one. Are some people waiting for the refresh to be available to them? Sure. Enough to take sales everywhere? I seriously doubt it. I suspect the vast majority of their buyers wouldn’t even know a refresh was coming. But we’ll find out pretty fast won’t we. If sales pick up back to normal pretty quickly then maybe you’re right. But if they keep slumping further and further then the refresh argument will start to lose a lot of credibility.
      - leesec 2y ago
        They've already picked back up, I check the numbers weekly
- VBprogrammer 2y ago
  I hear this a lot but I've not heard any coherent explanation for how Musk's actions don't hurt the brand. Obviously as a billionaire being a big fan of the Republican party would hardly be a surprise, he could have supported them, even donated large sums to them without any significant backlash. But becoming a key part of the administration instantly alienates half of the country, and by extension the customer base. And that is before you get into his "Roman salute" antics.
  - acdha 2y ago
    It’s especially bad when you think about the people who bought Teslas early. I’m sure the CEO of Toyota has views which would annoy many Prius owners but they’ve been wise enough to make it easy for prospective owners to never once even think about them, whereas Musk seems determined to make it impossible to ignore.
    - VBprogrammer 2y ago
      I mean even if you just look at it from the point of view that having Musk as your "ideas guy" is a pretty good proxy for success. How can the fact that he's spending most of his time as some kind of political missionary rather than on developing the business be a positive thing?
- verzali 2y ago
  If I look back to October 2021 it has lost value. Tsla stock was already struggling before the election compared to previous years. This feels like cope.
- culi 2y ago
  The S&P500 has increased since the election. Tesla is now down nearly 10% since election day's valuation.

throwaway5752 2y ago

It's shocking. You do everything possible to alienate your core buying demographic, and they stop buying your product. And maybe doing so particularly in markets that provided badly needed and nearly 100% margin carbon credits to sell to other automakers was a particularly bad idea. I'm sure self-driving cars and humanoid robots will be here any day now, though, just like the semi, or the previous self-driving cars. I'm only surprised TSLA has held up as well as it has.

b0sk 2y ago
Michael Jordan famously said "Republicans buy sneakers too". This guy doesn't care about any of this and he's still the right guy to steer Tesla in the correct direction? Mind boggling.
- hn_acc1 2y ago
  Not when they've been promoted as "woke" for years.. There's no way there's huge pent-up unmet demand for EVs in red states..
- bbqfog 2y ago
  The fundamentals of TSLA disagree with you. The price is 100% based on hype, so you can expect a full reduction when the hype man become unpalatable.
- heartbreak 2y ago
  The correct application of this quote would be “Democrats buy cars too,” so the problem with the Tesla brand is more apparent.

dabinat 2y ago

The question is: what price does the stock have to reach for shareholders to kick out the board and nominate a board that will fire Musk?

SonOfKyuss 2y ago
I think we have quite a ways to go before that. The price is still pumped pretty high compared to what it would be without the Musk hype that got it to where it is. I bet we’d see a 30-40% drop in share price if they fired him now. They’re in a no-win situation
- yoelhacks 2y ago
  Maybe. Current prices certainly include probability that Tesla is able to pull off major transformation into more than just a car manufacturer (batteries, supercharge network, self-driving software, etc). The implicit assumption is that Musk is helpful for that - which would certainly have been true some years ago. Getting rid of him would be an admission that the loftiest dreams won't happen as fast as some would like, but doesn't necessarily mean they're out of the picture.
  - _DeadFred_ 2y ago
    Panasonic makes the actual batteries at Gigafactory on Panasonic owned/operated lines that happen to lease space inside a Tesla building. https://en.wikipedia.org/wiki/Gigafactory_Nevada#Operations https://en.wikipedia.org/wiki/Gigafactory_Nevada#Operations
aswanson 2y ago
It's still overpriced at least 5x. They still have time to cash out.
gizmo686 2y ago
At this point, there probably is not any price for at least the next 4 years. Angering Musk like that would risk retaliation against both Tesla, and any other company that the people who organized such a firing happens to own.

biophysboy 2y ago

As someone working at the NIH, today has given me more schadenfreude than I have ever experienced in my lifetime. Today's 14% drop, the X outage, cancelled starlink contracts, protests at dealerships - the wax on his wings cannot melt fast enough for me.

leesec 2y ago
[flagged]
- deleted 2y ago
  [deleted]
- mersenne 2y ago
  OP didn’t claim to have done anything.
Dig1t 2y ago
Musk on the X outage: >There was (still is) a massive cyberattack against X. >We get attacked every day, but this was done with a lot of resources. Either a large, coordinated group and/or a country is involved. https://x.com/elonmusk/status/1899149509407473825 https://x.com/elonmusk/status/1899149509407473825
- sundaeofshock 2y ago
  Elon Musk says a lot of things. Is it really a cyberattack, or is the site just experiencing an outage due to an over-worked and understaffed team who were told to move fast and break things?
  - moralestapia 2y ago
    >is the site just experiencing an outage due to an over-worked and understaffed team who were told to move fast and break things? Doubt it. If anything they've shown to be a phenomenal team. I would believe the cyberattack claim.

legitster 2y ago

Tesla is still up compared to where it was a year ago. If you look at their chart, there was a massive election bump. An investor trying to be savvy maybe would have assumed his businesses would benefit from proximity to power. Now that it's pretty clear he is thoroughly disinterested and distracted from his businesses. Does Musk even want to be CEO anymore? He hasn't seemed to care about Tesla ever since he had to settle with the SEC. He got his massive payout that he will be unlikely to repeat. Ostensibly he is only CEO on paper because the magic affect his name had on stocks in the past.

9283409232 2y ago
>Does Musk even want to be CEO anymore? He hasn't seemed to care about Tesla ever since he had to settle with the SEC He recently got a contract with the State Department for 400 million to make armored Cybertrucks so he is still involved with Tesla. Musk wants to do whatever he wants without other people saying whether he can or can't. Every agency on his DOGE hit list was an agency that was investigating him. I'm sure he wants to be involved with SpaceX, Starlink, Tesla but these pesky things called regulations and investigations keep getting in his way so he has decided to tear it all down.
- happyopossum 2y ago
  > He recently got a contract with the State Department for 400 million to make armored Cybertrucks That doesn't appear to be the case - there (was) an entry on a spreadsheet about 'Armored Teslas' but Musk claims to know nothing about it, the State Department has stated it was just an estimate for a proposal they are no longer pursuing, and the ledger entry has been removed. So no, not a "contract for armored Cybertrucks" [0]https://www.npr.org/2025/02/24/nx-s1-5305269/tesla-state-department-elon-musk-trump https://www.npr.org/2025/02/24/nx-s1-5305269/tesla-state-dep...
  - culi 2y ago
    Tesla has gotten more than $13 billion in government contracts in the past five years. There's no reason to think this rate will decrease. At least not in the next 4 years

deleted 2y ago

[deleted]

deleted 2y ago

[deleted]

WhereIsTheTruth 2y ago

Their goal is to take it private, so yeah, pretty much planed

buffington 2y ago
Do you have any links to where this plan is described?
- WhereIsTheTruth 2y ago
  https://x.com/elonmusk/status/1026872652290379776 https://x.com/elonmusk/status/1026872652290379776
  - culi 2y ago
    x seems to be down lol
    - _DeadFred_ 2y ago
      3 hours later. Still down.
      - cozzyd 2y ago
        Surprised there's no fail heil.
hn_acc1 2y ago
Let me guess - funding secured?
- deleted 2y ago
  [deleted]

heisenbit 2y ago

Brand damaged beyond repair. First mass production advantage lost. New buyers dried up and possibly more important previous buyers experiencing a devaluation of their car which will make them think twice. Less integrated than Chinese manufacturers when it comes to batteries. Model pipeline stale, last launch was not a bulletproof hit. Less able to support vehicles in the field than established car companies. FSD based primarily on vision a strategic and possibly deadly mistake. Hostile takeover of the US government regulator a really hard to quantify legal risk. What is there left to like.

buffington 2y ago
I think ousting Musk would be a marketing win for Tesla, and likely the only path to staying in business at this point. Most people I talk to about Tesla, some of whom were diehard Musk-can-do-no-wrong fans as recently as last year, tend to share similar sentiments with me today.
- TheAlchemist 2y ago
  The problem, and it's a big one, is that getting rid of Musk, would mean that the stock craters 90% at least. If that happens, Tesla will be sued into oblivion once Musk is gone and everybody realizes that they are nowhere near rolling out real FSD and Optimus. One thing is sure - they are effectively done in EU, and the damage seems to be very substantial in the US too. In China, they just got outcompeted by cheaper and better alternatives. Let's see how a carmaker with installed capacity which exceeds sales by a factor of 3 or 4 manages to survive.
  - SirFatty 2y ago
    "getting rid of Musk, would mean that the stock craters 90% at least." Come on, that's a absurd statement.
    - TheAlchemist 2y ago
      Is it ? Can you argue a bit here ? From my perspective, Tesla is at >100 P/E ratio based on last year. Next year they will probably be loosing money given how sales are cratering everywhere. Some people see it as a software company - in reality it's a carmaker, employing >100k people. These people will have nothing to do next year for half of their time. Tesla fans themselves say that it's not longer a car company - it's AI / Robots company. Does this view will still stand without Elon ?

jeffreportmill1 2y ago

It seems obvious that elon hasn't even showed up for work in years. His only real tesla-related effort has been to try to strong-arm an illegal 50B pay package. The board should be replaced for negligence and he should be fired for malfeasance and fraud. I'll bet the stock would jump 10%+ overnight. The idea that he's the richest man in the world is a joke. Half his rapidly declining wealth is based on SpaceX, a "360B" company with no profit and < 12B in revenue that blows up and burns up its own products more often than not.

lawn 2y ago
Don't forget designing the Cybertruck and nixing a cheap car in favor of robotaxis.
_DeadFred_ 2y ago
Elon asked for $50 billion in pay. Tesla's TOTAL lifetime earnings as a company is $35.2 billion. $10 billion of that is selling 'credits'. $600 million of that was Bitcoin gains. Tesla is a 'battery company' but at Gigafactory Panasonic makes batteries on Panasonic owned/operated lines that just lease space from Tesla. Yet somehow this is a 'real' company.
skissane 2y ago
> that blows up and burns up its own products more often than not This false. SpaceX’s current product is Falcon 9/Heavy which “blows up and burns up” very rarely. Starship isn’t actually a product yet, it is an R&D program. If 50% of the test flights on an R&D program fail, that doesn’t tell us anything about the reliability of the finished commercial product. Absolute worst case scenario, Starship never works and is cancelled-SpaceX will have wasted billions but still have a market-dominating product with Falcon. And, despite the recent setbacks, it seems unlikely the worst case scenario will actually happen. More likely outcome is Starship is delayed and burns up billions more in R&D but eventually they get it to work as promised.

jmclnx 2y ago

Lets hope this will discourage many other oligarchs from tying themselves to one political party. There was a time these people kept quiet when their person became president, all we need now is a law that lists who contributed to which politician. That means unraveling companies owned by other companies.

moogly 2y ago

It's correcting. Still a long way to go to reflect reality.

xnx 2y ago

The recent drop has finally brought TSLA down to the pre-election level where it was still ridiculously overpriced. Tesla does not have self-driving, and there aren't signs that they're even close.

6510 2y ago

The only relevant thing to me is that they un-killed the electric car. Now everyone and their mum is making them. There are thousands of innovative ideas for cars that are scary to implement. Is the rotary engine a success now? I don't even know. This seems fun: https://digital-library.theiet.org/doi/10.1049/iet-its.2018.5014 https://digital-library.theiet.org/doi/10.1049/iet-its.2018.... Have the vehicles build a virtual environment together. Even if it is crude, it should be possible to measure space behind you and break automatically if the car in front of you suddenly stops. It seems much easier and more robust to build a virtual environment using road side cameras compared to just the vehicle pov. There is enough location data from accidents. Tickets for speeding can come out of a prepaid account in real time displayed on the dash. No-claim insurance seem rather crude. If I was an insurance company I'd much rather see years of decent driving data. What other fun stuff is there from an IT perspective?

josefritzishere 2y ago

Normally at some point the CEO would be answerable to their board of directors for such a dismal performance. Shareholder primacy is paramount.

spwa4 2y ago

Tesla shares are now down over 55% in USD terms from peak, and easily crossing 60% down in other currencies (Trump isn't just tanking the stock market, also the USD. Hope you aren't planning any holidays any time soon)

Marsymars 2y ago
Hey you can come holiday in Canada, Trump's tanking the CAD too.

tim333 2y ago

Still a $700bn market cap compared with $300bn for Toyota and something like $140bn for BYD so there's some room to go down more.

Ferret7446 2y ago

I'm rather surprised at how many people there are talking about this seriously. I hope you aren't all role-playing as day traders. Short term price fluctuations are totally normal and have no effect on long term trends. This is clearly a response to the recent terrorism (politically motivated violence and vandalism) and will have no long term effect (unless you anticipate such terrorism to become legalized). (I suppose I should point out that the price spike around the elections is also short term. You should ignore both and focus on fundamentals.)

pwrstick 2y ago
You don’t think the cratering sales numbers have anything to do with it?