this post was submitted on 13 Oct 2024
346 points (98.9% liked)
Technology
59589 readers
2962 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Regardless of it's performance, it's astronomically overvalued. Tesla's market cap is larger than 5 of the nearest rivals combined. The value of their shares doesn't reflect reality.
But reality inevitably catches up. Their last quarterlies were not looking good. The market is saturated with EVs now and Tesla is going to struggle to attract new customers, especially with the divisive politics of Elon Musk. About the only reason Tesla is still dominant in North America is because they are still the cheapest in town, but that is reflected in the shoddy build quality and bare bones interior.
It is hugely overvalued. We should scoff at their crazy highs instead of penalizing them for being below them. You can’t necessarily be blamed because at certain points investors wildly overvalued you. A lot of times the stock market punishes success. My employer for example doubled its business during COVID and when that spike eventually cooled off we were still on a good growth trajectory but a couple of quarters came in at negative YoY revenue and of course everyone lost their minds. This is why I always look at the zoomed out graph. It’s so easy to miss the real story looking at any one slice of it.