As much as I think TSLA/SPCX are overvalued there is nothing unique about their drop compared to many other companies in the last day or two. I wouldn't even hazard a guess on whether the floor has fallen out on anything yet, it could just as well be a temporary reaction to the election results and volatility following the uncertainty of that for these types of companies.
Of course one can always pick a set of tickers and day ranges that make it seem like any trend if you filter the view enough.
We already have uber and Lyft and taxis and our own cars and some other self driving things and bikes… and isn’t Apple supposedly coming out with a car sometime? This isn’t special and a lot of city dwellers aren’t interested in supporting musk anymore.
If you book a cybercab the price is significantly cheaper than an Uber or Lyft. You can book one to get across Austin for literally half the price of the competition.
I took screenshots of the prices I have paid because I was so happy with only having to pay $7 to get across my city.
Apple killed their car program years ago. I know because I work there.
>aren’t interested in supporting musk anymore.
That may be your personal political take, but there is no evidence that politics are slowing their growth in a meaningful way. There is still strong interest in Tesla products, products like Starlink are growing at an incredible rate, Starship launches command huge livestream viewership, there's an entire industry of Youtubers which break down and discuss the engineering and logistics of SpaceX rockets.
> but there is no evidence that politics are slowing their growth in a meaningful way.
Musk got a lot of favors and basically his way with the out going power holders, its why he spent so much so the party wouldn't end.
One I was just reading about (while looking for Hinojosa's first plans, cleaning up the education department); was there was a quiet deal being worked on for spaceX to buy a beachfront state park [0] and that she remarked about Texas no longer being for sale.
I wouldnt be surprised if all the investigations into his companies deals happen. The attorney general got ousted for a democrat too who already said there will be a massive overhaul to how the office is used -- no more being maga's private law firm. Lets hope Musk and his companies did everything above board when working the massively corrupt outgoing gang.
It is almost as exciting as the transmutation of base metals into gold, the panacea, and the elixir of longevity — all of which I’m told are just around the corner at Musk’s companies
I have ridden in a cybercab several times and they are omnipresent in my city. They work extremely well and are scaling quickly. "No prospects for growth" is a pretty wild take given the obvious new things they are building.
Regardless of whether private people participate, the actual robotaxi network they are running is real and growing quickly. Are you saying that self driving taxis are not going to be popular? Or is it just that the private citizen program will not materialize?
Regardless of whether private Tesla owners end up participating in the robotaxi market it does seem obvious that self driving taxis are going to be huge. Waymo and Cybercabs are growing quickly and will almost certainly completely dominate the market. Why would you ride in a Uber with a stinky driver (and pay more) when you could ride in a self driving taxi without a driver for cheaper?
Last year Tesla sold 1MM cars in us+China and another 150K in Europe. In the same period BYD sold about 3 million EVs.
Last MONTH (October) BYD sold 500K EVs. The US is propping up Tesla by keeping BYD out. I’ve driven several and they are great cars, much nicer than the aging Tesla line.
There's plenty of business leaders who are just as overtly political. Few of them make the evening news. Probably because few of them are building the largest rocket, charger network, space constellation, global internet provider, etc. in the world.
Are we really shocked when their entire IPO was predicated on AI the companies primary future revenue and American voters just told the market they're not gonna make that easy?
This analysis would be more convincing if other major tech companies hadn't fallen a similar amount today. It's a broad tech selloff.
Also, what's with this site? It only has a single article.
EDIT: Judging from the URL/title, it's some (AI-generated?) thing that reuses the title from https://www.reddit.com/r/technology/comments/1xow42o/tesla_a...
Similar amount?
GOOG -2% in 5 days
META -4% in 5 day
INTC -6% in 5 day
NVDA -9% in 5 day
TLSA -10% in 5 days
AMD -17% in 1 day
ASML -9% in 1 day
AVGO -10% in 1 day
MU -17% in 1 day
NVDA -9% in 1 day
SKHY -13% in 1 day
TSMC -10% in 1 day
As much as I think TSLA/SPCX are overvalued there is nothing unique about their drop compared to many other companies in the last day or two. I wouldn't even hazard a guess on whether the floor has fallen out on anything yet, it could just as well be a temporary reaction to the election results and volatility following the uncertainty of that for these types of companies.
Of course one can always pick a set of tickers and day ranges that make it seem like any trend if you filter the view enough.
I think you mixed up 1 day and 5 day on a few of those. I think these are correct (they're just the Google search tickers):
Tsla has a PE of 380 with YoY degrowth over multiple years and no prospects of growth.
so you're saying it's the best meme stock ever?
What do you think about cybercab & the incoming ability for private owners to participate?
We already have uber and Lyft and taxis and our own cars and some other self driving things and bikes… and isn’t Apple supposedly coming out with a car sometime? This isn’t special and a lot of city dwellers aren’t interested in supporting musk anymore.
If you book a cybercab the price is significantly cheaper than an Uber or Lyft. You can book one to get across Austin for literally half the price of the competition.
I took screenshots of the prices I have paid because I was so happy with only having to pay $7 to get across my city.
Apple killed their car program years ago. I know because I work there.
>aren’t interested in supporting musk anymore.
That may be your personal political take, but there is no evidence that politics are slowing their growth in a meaningful way. There is still strong interest in Tesla products, products like Starlink are growing at an incredible rate, Starship launches command huge livestream viewership, there's an entire industry of Youtubers which break down and discuss the engineering and logistics of SpaceX rockets.
> but there is no evidence that politics are slowing their growth in a meaningful way.
Musk got a lot of favors and basically his way with the out going power holders, its why he spent so much so the party wouldn't end.
One I was just reading about (while looking for Hinojosa's first plans, cleaning up the education department); was there was a quiet deal being worked on for spaceX to buy a beachfront state park [0] and that she remarked about Texas no longer being for sale.
I wouldnt be surprised if all the investigations into his companies deals happen. The attorney general got ousted for a democrat too who already said there will be a massive overhaul to how the office is used -- no more being maga's private law firm. Lets hope Musk and his companies did everything above board when working the massively corrupt outgoing gang.
[0] https://www.texasmonthly.com/news-politics/boca-chica-spacex...
> There is still strong interest in Tesla products, products like Starlink
Starlink is a Tesla product? Both SpaceX and Tesla are counting it as their sale, wow!
I thought Apple canceled their car project - see https://carcody.com/apple-car-what-happened-to-project-titan...
It is almost as exciting as the transmutation of base metals into gold, the panacea, and the elixir of longevity — all of which I’m told are just around the corner at Musk’s companies
Have you heard of starship or the model y?
Those are at Musk's companies already.
> Have you heard of starship or the model y?
no
I have ridden in a cybercab several times and they are omnipresent in my city. They work extremely well and are scaling quickly. "No prospects for growth" is a pretty wild take given the obvious new things they are building.
Just hype and lies from Musk. He has been lying about self-driving cars for 10 years now.
How is it a lie? You can literally book a self driving Tesla anywhere in the Bay Area or Austin. I see them driving around Austin every day.
The hype and lies are about how profitable robotaxis will be and the claim that private people will be able to participate.
Regardless of whether private people participate, the actual robotaxi network they are running is real and growing quickly. Are you saying that self driving taxis are not going to be popular? Or is it just that the private citizen program will not materialize?
Regardless of whether private Tesla owners end up participating in the robotaxi market it does seem obvious that self driving taxis are going to be huge. Waymo and Cybercabs are growing quickly and will almost certainly completely dominate the market. Why would you ride in a Uber with a stinky driver (and pay more) when you could ride in a self driving taxi without a driver for cheaper?
> What do you think about cybercab & the incoming ability for private owners to participate?
I think Elon Musk says a lot of things.
Last year Tesla sold 1MM cars in us+China and another 150K in Europe. In the same period BYD sold about 3 million EVs.
Last MONTH (October) BYD sold 500K EVs. The US is propping up Tesla by keeping BYD out. I’ve driven several and they are great cars, much nicer than the aging Tesla line.
The US has had protectionist measures for its car market since forever.
That's why the US car market is so 'unique' and American brands struggle in foreign markets.
What is this random website that has a single AI generated article
Still wildly over valued, only time even remotely profitable is with government subsidies.
Lawfare is coming, everyone knows it.
If you mean enforcement of laws then yes.
Tis’ a tragedy Musk can’t stay focused on building great companies instead of shooting his mouth off about politics.
Is this advocating for a return to the pre-2020 status quo for corporate behavior?
Well, the proof is in the eating so we'll find out whether bluster is more valuable than performance.
Haven’t a clue what you’re talking about.
I assume you're pining for the early 2000s when companies steered clear of talking about political issues.
Musk is easily the most overtly political/shitposty business leader. Second place is so far behind it's not even clear who that would be.
I'm not speaking for the parent, but clearly it's easy to lament Musk's overtness without implying that everybody is doing it to a similar degree.
There's plenty of business leaders who are just as overtly political. Few of them make the evening news. Probably because few of them are building the largest rocket, charger network, space constellation, global internet provider, etc. in the world.
I live in Europe and here companies stay silent about political issues.
Never bet against Elon.
"I never bet against (Kirby? Ohtani?)" is a common phrase in baseball betting; usually a minor input that I should think about going the other way.
I lost all respect for him given his idiotic involvement with the government. And other obvious things.
$420B can't be coincidence. Musk engineered the fall perfectly.
Alternative target was$800Bs
There’s always tomorrow.
Space lasers :) Pass the spliff.
Nvidia lost more than that by itself…
Are we really shocked when their entire IPO was predicated on AI the companies primary future revenue and American voters just told the market they're not gonna make that easy?
so did everyone else. so?
Not I
Eh while you’re not wrong everyone else doesn’t have crazy P/E ratios and a personality cult as part of its price.
Will be interesting to see how Musk and his companies weather this storm