Tesla’s value plunged nearly $200 billion since mid-July – and the EV maker faces a bumpy road ahead::Tesla shares closed Tuesday at just over $233, well down on their 2023 peak of $291.

  • DingoBilly@lemmy.world
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    1 year ago

    Such a remarkably overvalued company. I’d be surprised if it’s still around in a few decades. Feels like they’re the MySpace of today - they’re big and have first mover advantage but have nothing interesting down the line and newer companies will and are supplanting it.

      • Furbag@lemmy.world
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        1 year ago

        Elon’s business model was not to be in the car business long term but the your-car-is-also-a-taxi business and reaping the profits of not just selling cars but ride-sharing too. Triple dipping if you count the supercharger stations, basically collecting a fee every time you use your car. I can see the bull run when things are framed from the perspective of magical Christmasland, but there’s a slightly larger than zero but still basically zero percent chance that FSD on Teslas will ever work autonomously and their cars are getting smoked domestically because they have competition now where they didn’t before.

      • aesthelete@lemmy.world
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        1 year ago

        They’re building a new plant in Mexico.

        That’s what will really take the comparative stock price of actual automakers into the stratosphere with Tesla you guys, a fucking factory in Mexico. How could Ford or Hyundai match having a factory in Mexico?!

        Lol, the last Ford I bought (shit car btw) was built in Mexico. Tell me again why Tesla has 20x the market cap of Ford because it surely ain’t factories in Mexico.