Tesla Inc. had a blockbuster 2023, as its shares more than doubled in 12 months. But 2024 is starting on a different note, with Elon Musk’s electric vehicle maker off to its worst start to any year — ever.

Tesla Gets a $94 Billion Reality Check as EV Winter Sets In::Tesla Inc. had a blockbuster 2023, as its shares more than doubled in 12 months. But 2024 is starting on a different note, with Elon Musk’s electric vehicle maker off to its worst start to any year — ever.

  • Zeppo@sh.itjust.worksEnglish
    0·
    7 months ago

    Tesla definitely sucks, but headlines like this are so useless. Check out a 5 year chart. Tesla stock hit a 2 year low at the beginning of last year…. that was significant, down to 120. Then it recovered to a fairly average price, where it’s been since then (this made musk the person to “lose” and “gain” record amounts of wealth in a short time). The recent dip hasn’t been extremely significant…. It’s like 245 to 217.

    • Isoprenoid@programming.devEnglish
      0·
      7 months ago

      Tesla stock

      The price ain’t right.

      Your argument assumes that the price of the stock is fundamental, rather than partly speculative. I don’t think that’s a fair valuation of Tesla stock due to the ability of Musk to drum up speculation value.

      • Zeppo@sh.itjust.worksEnglish
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        7 months ago

        Oh, it’s still wildly overvalued. Tesla is worth more than half a dozen other automakers combined, and I don’t see any reason for that. I’m just saying the current price doesn’t really represent a large drop.

    • ArbitraryValue@sh.itjust.worksEnglish
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      7 months ago

      Yes, this “dip” is back to where they were on November 10, 2023, leaving the stock worth 66% more than it was a year ago.

  • originalucifer@moist.catsweat.com
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    7 months ago

    only the fanboys didnt see this coming. the lack of a complete product lifecycle had to catch up with them at some point, and thats the least of their current problems.

    zero quality control (and plummeting, somehow) and a reputation on the floor of the bathroom thanks to that nazi in charge… its only a matter of time until theyre sold off to a mature vehicle manufacturer.

    • makar94@lemmy.dbzer0.comEnglish
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      7 months ago

      Listen, I completely agree with most of what you said until the last sentence. Tesla’s been around for long enough that they’ll survive. If by “matter of time” you mean a few decades or longer, sure, I could see someone buying them. Don’t know how long you’ve been around for, but I’ve been hearing this same thing since they went public. Yet, here we are.