Wednesday, December 21, 2022

Losing that spark?

While Elon's been busy shitposting at his new social media site, Tesla’s stock has continued a slide to a new 52-week low, closing under $138 a share yesterday. 

Pissing off smug rich liberals who are the main buyers of your product right about the time that every other carmaker on the planet is jumping into the EV market with both feet is not what I'd call an exhibition of business genius.

Musk deflected, trying to blame it on a general market slump, but that's a partial explanation at best...
"Tesla’s stock has dropped more than other larger automakers since Musk announced his plans to buy Twitter in Apr. 2022. Since that date, Tesla shares are down 59%, versus 26% for Ford and 12% for GM. The S&P 500 is down 14%."
Some big TSLA investors are not amused...