Again, Elon Musk just sold a hefty chunk of Tesla shares (after saying he wouldn't)

[KarlS]

I think he will be toast when the P/E ratio is in the same ballpark as that of other carmakers. Until then the won’t let go of what’s left of his nimbus.

[VeronicaConnor]

Tesla’s market cap is utterly nonsensical. It’s a financially overextended niche carmaker having production issues and not really getting much market penetration anywhere globally outside California. Yet the market has decided it is worth half a trillion dollars?!

It seems like the stock market is just using it as a proxy for “the idea of electric cars”, I guess? The stock market is so stupid.

[Otherbrother]

@VeronicaConnor

It’s a financially overextended niche carmaker having production issues and not really getting much market penetration anywhere globally outside California.

Aren’t you forgetting about a little country* called Iceland? They became the best-selling car brand there in 2020:

https://electrek.co/2020/04/01/tesla-best-selling-car-brand-iceland/

*(And I do mean “little” literally. Their population of 350k is about 1/30th of Los Angeles county)

[ZombieRasputin]

@VeronicaConnor

Tesla’s market cap is utterly nonsensical. It’s a financially overextended niche carmaker having production issues and not really getting much market penetration anywhere globally outside California. Yet the market has decided it is worth half a trillion dollars?!

It seems like the stock market is just using it as a proxy for “the idea of electric cars”, I guess? The stock market is so stupid.

The market cap DOES make no sense, but I’ve been seeing tons of them in my mid-size E. Washington town. Most supercharger stations in my area I see are filled when I go by, and the generic chargers the power company in town (Avista) have Teslas parked in them. Could be confirmation bias, though.

[VeronicaConnor]

@ZombieRasputin

The market cap DOES make no sense, but I’ve been seeing tons of them in my mid-size E. Washington town.

You certainly see them around, but compared to say, General Motors? Any parking lot or busy street in North America will be 50% General Motors products, at least.

GM’s market cap is currently one tenth of Tesla. If anyone ever needed proof that stocks are bullshit, here we are.

[mr_raccoon]

CNN

Fall Out Boy - Sugar, We're Goin Down (Official Music Video)

[ZombieRasputin]

At this point I wonder when he is going to lose control of Space X? The US Gov and most of the commercial telecommunications industry rely on them now for launch services. It’s hard to understate how much they shifted the industry.

The DoD got angry at him for smoking a blunt on a podcast, how can they be comfortable watching what is happening right now?

[Otherbrother]

@ZombieRasputin

At this point I wonder when he is going to lose control of Space X? The US Gov and most of the commercial telecommunications industry rely on them now for launch services. It’s hard to understate how much they shifted the industry.

According to what I can find on Wikipedia Musk has about a 47% ownership stake in the company. Unless all the other private investors United against him I’m not sure what legal mechanism could force him to sell. The government could cancel their contracts to hurt SpaceX revenue if they wanted to but they definitely aren’t the only customer.

Of course, he might cash out some of his ownership share similar to how he’s been selling off Tesla stock. I’m sure he may do that if he’s running short on cash.