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As far as Wall Street is concerned, none of this really matters. Tesla stock (P/E over 250) is priced as if Telsa is the largest auto manufacturer, the biggest

As far as Wall Street is concerned, none of this really matters. Tesla stock (P/E over 250) is priced as if Telsa is the largest auto manufacturer, the biggest robotaxi company, the dominant robot producer and the leading AI service provider. Meanhile; back in reality, none of this is even close to being true. Logic simply cannot explain it --- so the fallback is a conspiracy of some sort. One that Wall Street must have a stake in.

rsynnott 1y ago
> Logic simply cannot explain it --- so the fallback is a conspiracy of some sort. One that Wall Street must have a stake in. ... Wait, is your contention that every time the markets price something incorrectly, there must be a conspiracy? Tesla is a meme stock, one of hundreds, albeit the biggest. There's no need for a conspiracy; the markets are just actually not all that great at pricing, especially where there's significant retail involvement.
- jqpabc123 1y ago
  Tesla is a meme stock, one of hundreds, albeit the biggest. Nothing about the valuation makes any sense and it hasn't for years. Tesla is no longer a startup. Market performance history is readily available from which one should be able to make rational judgments. Tesla only has about 10% of world wide *EV* sales. Yet it's market cap exceeds all major auto manufacturers *combined*. As you point out, it's the scale and magnitude of the disconnect from reality maintained over a long period of time that puts Tesla in a league of it's own.
JohnFen 1y ago
> the fallback is a conspiracy of some sort. I don't think you have to go to conspiracy theories to explain it. The fact that Wall Street has always been highly suggestible, fad-driven, and has a strong herd mentality is sufficient. Combine that with sunk cost fallacies and this is exactly the sort of behavior I'd expect.
- jqpabc123 1y ago
  Combine that with sunk cost fallacies and this is exactly the sort of behavior I'd expect. Sorry, fads and sunk cost fallacies can't explain why a majority of Wall Street "analysts" maintain a *buy* rating on a company with a PE of over 250 and a *declining* global market share --- while the companies eating Tesla's market share have a P/E of around 10.
bamboozled 1y ago
I came here to say something similar, no matter how bad the numbers, no matter how bad the cars, no matter bad the press, there will be absolutely no consequences for any of it. We live in bizarre times. The older I get, the more I wonder why I try do things "properly" and honestly. I guess it's just a preference.

rsynnott 1y ago

> Logic simply cannot explain it --- so the fallback is a conspiracy of some sort. One that Wall Street must have a stake in. ... Wait, is your contention that every time the markets price something incorrectly, there must be a conspiracy? Tesla is a meme stock, one of hundreds, albeit the biggest. There's no need for a conspiracy; the markets are just actually not all that great at pricing, especially where there's significant retail involvement.

jqpabc123 1y ago
Tesla is a meme stock, one of hundreds, albeit the biggest. Nothing about the valuation makes any sense and it hasn't for years. Tesla is no longer a startup. Market performance history is readily available from which one should be able to make rational judgments. Tesla only has about 10% of world wide *EV* sales. Yet it's market cap exceeds all major auto manufacturers *combined*. As you point out, it's the scale and magnitude of the disconnect from reality maintained over a long period of time that puts Tesla in a league of it's own.

JohnFen 1y ago

> the fallback is a conspiracy of some sort. I don't think you have to go to conspiracy theories to explain it. The fact that Wall Street has always been highly suggestible, fad-driven, and has a strong herd mentality is sufficient. Combine that with sunk cost fallacies and this is exactly the sort of behavior I'd expect.

jqpabc123 1y ago
Combine that with sunk cost fallacies and this is exactly the sort of behavior I'd expect. Sorry, fads and sunk cost fallacies can't explain why a majority of Wall Street "analysts" maintain a *buy* rating on a company with a PE of over 250 and a *declining* global market share --- while the companies eating Tesla's market share have a P/E of around 10.

bamboozled 1y ago

I came here to say something similar, no matter how bad the numbers, no matter how bad the cars, no matter bad the press, there will be absolutely no consequences for any of it. We live in bizarre times. The older I get, the more I wonder why I try do things "properly" and honestly. I guess it's just a preference.