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How is the company possibly worth that much when no one wants the cars? This economy is complete fucking made up bullshit.
Saudis keep dumping money into the stock. Its almost like a combo of money laundering + destabilizing the US government.
I'm sick of this make believe economy where things aren't worth their actual value but however much they're being propped up by bullshit and wealthy investors. I just can't take anything seriously anymore.
Almost?
My half-baked theory is that the Saudis backed Musk's takeover of Tesla with the idea that he would fuck the company up and completely discredit electric cars. And despite his best efforts, Teslas became incredibly popular anyway.
…Springtime for Tesla!
The shareholders, who are not starving by any means, dont mind lower earnings per share as long as their political machinations are being carried out. The world's largest capital equity firms have all gotten onto the musk bandwagon believing that his vision for the future is good for their funds.
The overvaluation is more designed to fund the schemes of musk, who wants to break the US up into fiefdoms.
If you mentioned that Tesla is losing its competitive edge as EV manufacturer, most Tesla stock fans would quickly correct you that the company isn't just about that, it's also an AI company. I think the company is leveraging other competencies to future proof itself to market shocks; which makes sense since Musk stole personal information from the federal government to train his AI.
https://worldpopulationreview.com/country-rankings/tesla-sales-by-country
Quite many people still want their cars. Tesla's valuation sure is odd though.
Because idiots look at other automakers valued in the 30-50$ range and still ape into clearly overvalued Tesla stock