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That would explain the $2000 loss on my retirement account balance this month.
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Submitted 2 weeks ago by Lemmynated@lemmy.zip to technology@lemmy.zip
Comments
crunchy@lemmy.dbzer0.com 2 weeks ago
SatansMaggotyCumFart@piefed.world 2 weeks ago
You shouldn’t invest in meme stocks.
superglue@lemmy.dbzer0.com 2 weeks ago
In many cases you don’t have a choice. They weaseled their way into index funds and your employer gives you limited options.
crunchy@lemmy.dbzer0.com 2 weeks ago
Unfortunately, retirement accounts typically dont give you the choice.
ramenshaman@lemmy.world 2 weeks ago
Lol. Lmao even.
He should have just stuck with making cars. He should have keeps it as “Tesla Motors” instead of changing it to “Tesla” and made a separate company for making robots or whatever. He should have had an option for cheaper cars without any self driving bullshit. He should have used lidar. He shouldn’t have been a nazi. He should have just stayed off social media entirely and enjoyed being the richest person who ever lived.
shrek_is_love@lemmy.ml 2 weeks ago
He’s probably the best example we have that we don’t live in a meritocracy
ramenshaman@lemmy.world 2 weeks ago
I think there are even better examples in the white house
mojofrododojo@lemmy.world 2 weeks ago
it’s a glaring example of how money cannot buy friends. any real friend of musk would have gotten him to open his eyes to the damage he caused at each turn - what a sad sack of shit
ChickenLadyLovesLife@lemmy.world 2 weeks ago
Musk has real friends … they just wear ghutras.
eremophila@lemmy.zip 2 weeks ago
Reports like this need to include a history graph, we have been through this before, and people got excited for very little reason while musk continued to swim in money
p03locke@lemmy.dbzer0.com 2 weeks ago
But, but, but, SpaceX stock!
merc@sh.itjust.works 2 weeks ago
TSLA is down about 30% from 6 months ago, and down about 18% from 1 month ago.
But, it’s still MASSIVELY overvalued.
The typical, basic way to value a stock is with its P/E ratio. The price of the stock compared to its earnings per share. Even after this “bloodbath”, Tesla’s P/E ratio is approximately 175.
What’s a P/E ratio for a typical well run car company? Toyota’s P/E ratio is approximately 10. GM’s P/E ratio is about 35. Mercedes-Benz is at about 9.
Tesla just had a disastrous earnings report. The Cybertruck was the least successful automobile ever produced. The man most associated with the Tesla brand is toxic to the left, and the people who might want to buy a pricey EV are mostly lefties. To me, the highest Tesla’s P/E ratio should be at this point in time is maybe 10. To achieve that, its price would have to be approximately 1/20th of what it currently is. It would have to lose 95% of its current value. And, that would just be treating it as a reasonably well run car company that maybe had an off quarter.
Looking at it another way, Tesla sold approximately 1.5 million vehicles last year. Toyota sold about 10 million. If investors were sane, Toyota would be valued at approximately 7x Tesla’s value. Instead, Tesla is valued at $1.2 trillion, but Toyota is valued at only $200B.
Right now, 1000 shares in Tesla would cost you about $300,000 USD. If someone offered to sell me 1000 shares for only $3000 USD, on the condition that I couldn’t sell them for 10 years, I wouldn’t buy them, even at a 99% discount. I honestly don’t think Tesla is going to exist in 10 years.
faintwhenfree@lemmus.org 2 weeks ago
But… Bro look at the potential, bro… It isn’t self driving now, but it will be THE self driving technology in 20 years bro… Just trust me bro… This is the time to buy broo… P/E ratios are measurements of a bygone era bro… Once TSLA monopolies self driving brooo… Stock price will have exponential. Growth bro… More than earth’s GDP bro… Trust me bro…
Malyca@lemmy.zip 2 weeks ago
We’ve got Rivian self driving at home, with lidar and safety.
TankovayaDiviziya@lemmy.world 2 weeks ago
Even if there is potential to self-driving technology, the wait is very long because the technology is still nascent and unproven. Are people willing to put money on stocks that won’t grow for years or years? It’s the same with space stocks. This just vindicates the principle of value investing: invest in companies that are already profitable.
1984@lemmy.today 2 weeks ago
I think they will but they won’t be making their largest profits from cars. It will be robotics, and only if they manage to beat every other tech company that will also go into robots…
Elon will get old soon too and what happens then with the company. It’s all based on Elon Musks personality.
rafoix@lemmy.zip 2 weeks ago
Robots already exist. They’re used in manufacturing worldwide. Tesla doesn’t sell any to anyone. They are not even competing.
merc@sh.itjust.works 2 weeks ago
I think they will exist in 10 years but they won’t be making their largest profits from cars. It will be robotics,
These are the kinds of stories people who keep bidding up the price tell themselves.
IMO, if any car company is going to make a breakthrough in robotics, it will probably be Toyota. Unlike Tesla, they’re not faking things.
segfault11@hexbear.net 2 weeks ago
The elephant in the room during this week’s call was the long-rumored possibility of Musk merging Tesla and SpaceX — a doubling down on his portfolio that could set up some of the most unbelievable financial drama in economic history.
switcheroo@lemmy.world 2 weeks ago
Good. Deserved.
barrbaric@hexbear.net 2 weeks ago
Still way over what it’s realistically worth, I’m sure.
zout@fedia.io 2 weeks ago
WHEEEEEEEE!
1hitsong@lemmy.ml 2 weeks ago
🍿 That’s a shame.
Valmond@lemmy.dbzer0.com 2 weeks ago
Ha ha ha lol.
RememberTheApollo_@lemmy.world 2 weeks ago
Is he still a trillionaire with SpaceX and Tesla nosediving?
Tollana1234567@lemmy.today 2 weeks ago
he thought he could cash out being the tesla stocks fell.
Nobody@anarchist.nexus 2 weeks ago
Glorious. Just glorious.