Tesla dealerships are getting protested and, in some cases, vandalized. Sales are down on 9 of the top 10 countries Tesla sells in. Yet Tesla stock is up. Twitter is a cesspool of nazi-themed bots, and somehow just pulled in $1bn and raised its valuation back up to $44bn.
How is any of this possible? It seems really artificial to me, but I don’t really understand business.
Well, over what period of time are you talking about?
https://finance.yahoo.com/quote/TSLA/
For the day, TSLA is up 5.27%.
For five days, down 0.51%.
For one month, down 26.37%.
Year-to-date, down 38.41%.
For six months, up 4.39%.
Like, depends on the start and end time that you’re looking at.
For 1 year, up 45.59% (this is fucking crazy!) For 5 years, up 625.30%
This is not normal for any stock, even if the company was doing good. But the company isn’t doing good.
Their market share is small and hasn’t grown in ways promised. The Cybertruck was a disaster, with almost no customers, only legal in some parts of the world (parts without proper regulations) and a bunch of delays and technical issues. Demand has been decreasing, even before Musks latest public Nazi shit. Revenue is down. There appears to have been fraud in the numbers they did report and those weren’t good to start with. The whole promised future of self driving cars has turned out to be total BS and only the very strict anti-sue terms has saved them on this point. Other companies in the same space are doing better on all fronts.
Yet somehow the stock is worth more than the rest of the market they are in? It makes zero sense and you can bet your ass illegal shit has been done to get it to this point.
Musk has been begging people to please hold on to their stock. And if I know one thing, if the big shareholders start saying shit like that, sell immediately! It’s a sign they are going to sell and you need to get out before all the money is gone.
My impression is that the stock market is not really interested in real-world value. It’s interested in projections of future stock price. And those things should be coupled, but they can be very decoupled sometimes.
I don’t understand enough to known why yet though.
People have the memory of a goldfish nowadays.
I was alive during the 2000 and 2008 market crashes, but also the 2020 non-crash.
It could be that Tesla really has cracked autonomous driving by summer, as Elon claims, and then they will recover a lot of market value.
But more realistically, as the saying goes, even a dead cat bounces.
Markets never go down in perfect lines. There are dead cat bounces along the way.
Checkout how good their fucking reduction to using only cameras, instead of radar or lidar, line everyone else, is working out
Here is a nice comparison between lidar and Tesla’s solution with only using cameras:
https://www.youtube.com/watch?v=IQJL3htsDyQ&t=491
You can clearly see the downsides and why those sensors are just not sufficient in any way for a self driving car
He really says that??
He must be sooo desperate LMAO
He’s been saying “fully autonomous” by next year for literally like 10 years, lol. Short memories indeed.
I believed in him since like 2001. I stopped believing in him by 2015.
to be fair what they’ve built is amazing, and good enough for 80-90% of the time. but it needs to be 99.9999% of the time and thats not this year. they will release something of course, and rely on remote human intervention, and many people will die. but the media wont mention it and the statistics will be buried, and when it rains or is foggy or too hot etc millions will all be stranded.
What they’ve achieved is irrelevant. They’re never gonna achieve 99.999% with standard cameras + AI for decades. Elon can’t magically manifest the safety of Lidar through hopes and prayers; yet he believes he can, so the only logical conclusion is that he’s a complete fucking moron con artist, only skilled at separating people from their money.
If you don’t understand this yet, print me out some examples of your best code, and email me a list of your top accomplishments from the last week!
The idea that many people will die in Tesla Autopilot accidents and the media won’t mention it is laughable.
I hope that no one will die, but if they do, the media will be all over it. It’s way too high profile. He might be able to bury the statistics, since those are mostly under the control of the federal government.
I agree with @Num10ck@lemmy.world – Tesla did some amazing things, and really paved the way for electric vehicles (especially vehicle charging infrastructure). But they went too fast and quality went down and they’re trying to make up for it by Magats buying to support Trump.
Tesla is already the most deadly car brand, but why aren’t the media already “all over it”? What makes you think it will be any different with autopilot? https://www.rollingstone.com/culture/culture-news/tesla-highest-rate-deadly-accidents-study-1235176092/
They’re behind other manufacturers in some ways: https://m.youtube.com/watch?v=IQJL3htsDyQ