[HN Gopher] Tesla Stock Losses Top $575B as 'Investor Patience W...
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       Tesla Stock Losses Top $575B as 'Investor Patience Wears Thin'
        
       Author : belter
       Score  : 20 points
       Date   : 2022-05-24 21:13 UTC (1 hours ago)
        
 (HTM) web link (www.forbes.com)
 (TXT) w3m dump (www.forbes.com)
        
       | floatinglotus wrote:
       | The PE is STILL 85. It was almost 1000 about a year and a half
       | ago. They have sailed on smooth seas, now the market is rough and
       | their products are having minor issues. Wait until there is one
       | major problem and it will be a free fall.
        
       | gregjor wrote:
       | Forbes.com -- I found a few pixels on the site not used for ads
       | and experienced five seconds without a popup. Please have your
       | "engineers" look at the site's user experience.
        
       | ushakov wrote:
       | and which stock _doesn 't_? why focus only on Tesla?
       | 
       | we're in the beginning economic crisis and tech companies are the
       | first to take a hit
       | 
       | other tech companies are already doing massive layoffs, Klarna
       | just yesterday and Lyft today
       | 
       | the real bad news is that the bear market can hold on for years
       | with no signs of relief
        
         | Bubble_Pop_22 wrote:
         | Because it's the only stock people have an emotional attachment
         | towards.
         | 
         | People who are in index funds have no such emotional reaction
         | because they know that they couldn't have possibly done better,
         | because day trading is a guarantee to lose money and so is
         | stock picking.
        
         | suture wrote:
         | Last October Tesla had a market cap of $1 trillion and was
         | worth the 10 largest auto manufacturers combined. It's a stock
         | that has been way overvalued. The $575 billion drop in market
         | cap is itself more than the market cap of any other auto
         | manufacturer. These facts make the drop in Tesla's share price
         | noteworthy and newsworthy. Then there is Elon's oversized ego
         | and his legion of sycophants to add to the newsworthiness of it
         | all.
        
         | over_bridge wrote:
         | Tesla has been massively overvalued for a long time. Elon
         | himself said it was too high. The exceptionalism of Tesla was
         | the cult of personality around Musk himself. The stock is
         | strongly tied to public perception of one person.
         | 
         | This has been in Tesla's favour when they were tiny and
         | struggling but may be to it's detriment now it's found its feet
         | and is doing well.
         | 
         | It's an interesting shift happening now where the perceived
         | relative value of man vs his company is changing. Is Tesla now
         | being dragged down?
        
           | gota wrote:
           | Not to mention - and this has been true for a long, long time
           | - every time Elon Musk makes a controversial statement he
           | becomes, in the eyes of everyone paying attention, a little
           | more stupid and a little less like Tony Stark (which seems to
           | be what he wanted to convey)
           | 
           | He has beem chasing controversy, up to and including naming a
           | child with a publicity stunt name. This is not what people
           | usually want to bet/invest on.
           | 
           | Edit: and picking a fight with Bernie Sanders on twitter.
           | Then fighting on twitter about twitter to buy twitter
        
         | gregjor wrote:
         | Tesla is not a tech company. Other auto manufacturers are not
         | getting hammered this hard.
        
           | squidbeak wrote:
           | Any company with huge R&D in AI is a tech company. Tesla's
           | also an auto company. It's possible to be both.
        
             | Bubble_Pop_22 wrote:
             | Exxon is using AI to find potential new pockets of oil, is
             | it a tech company too?
             | 
             | What a load of bollocks, it's just the age old tale of a
             | guy who believes his own BS enough to stream it into the
             | world . When there are many of them eventually one will
             | succeed in selling his unsubstantiated narrative.
             | 
             | In a sense people are right when they say Tesla isn't a car
             | company, it's a cult company.
        
           | ushakov wrote:
           | Tesla is a tech company that happens to make cars
        
         | mancerayder wrote:
         | I think they're going to let the capital drain long enough to
         | meaningfully lower inflation and open the monetary policy
         | spigot again.
         | 
         | I'm not sure if there will be any lessons learned here by
         | policy chiefs. It seems they waited so long to increase rates,
         | while denying inflation, for political reasons and not rational
         | ones.
        
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       (page generated 2022-05-24 23:02 UTC)