As top shareholders dump their Tesla stock, Musk is now begging the rank and file to hold onto their equity.

Keep it going. Canada, you’re doing great.

  • cronenthal@discuss.tchncs.de
    79·
    14 days ago

    Just a quick summary:

    • insiders are selling huge amounts of stock
    • sales figures in the last two months were horrible
    • constant recalls of cybertrucks which are also basically not selling
    • protests and vandalism
    • brand is universally hated
    • record trade-ins and sales of second hand vehicles
    • no new models or products in the pipeline
    • laughable vaporware announcements
    • begging employees not to sell
    • begging Trump for a sales show
    • questionable accounting practices exposed in financial times

    How anyone can still hold on to Tesla stock is beyond me.

    • ragingdachshund@lemm.eeEnglish
      5·
      13 days ago

      Busted for attempting fraud for EV rebates in Canada at numbers not physically possible and being stupid and arrogant enough to think he’d get away with it

      • merc@sh.itjust.works
        4·
        12 days ago

        What I love is that it’s a damned if you do, damned if you don’t situation.

        The whole reason it has such an absurd valuation, 20x higher than a normal car company, is that they convinced investors they weren’t just a boring car company. They had a visionary CEO who was going to keep innovating and growing the company in ways that normal car companies could never replicate. He was Tony Stark! Now they’re in a situation where it’s that same CEO who’s dragging them down. His politics is tanking their reputation, so it’s tanking their stock value.

        The problem is, if they dump him as CEO, there’s absolutely no way to justify the absurd P/E ratio. They can’t just go out and appoint another supposed “Tony Stark” to run the company. That means they stick with him and their stock price tanks because he’s one of the most hated people in the world. Or, they ditch him and their stock price tanks because with their visionary CEO gone, the jig is up and there’s clearly no way to justify a P/E ratio of 100 when Toyota has a P/E ratio of approximately 7.

        And for Elon, half his wealth is Tesla stock, and he borrowed against that Tesla stock to fund his Twitter purchase. If Tesla tanks, it all could come crashing down around him. There’s no escape for him either. He can’t realistically even sell his stock because as soon as he started trying to do that it would signal his lack of confidence and cause the value to plummet.

        It’s just annoying that Tesla’s stock isn’t crashing faster. So many people who don’t believe in the sunk cost fallacy, and are desperately lying to themselves rather than cashing out before the bubble bursts.

      • xmunk@sh.itjust.works
        0·
        13 days ago

        I think the writing on the wall is that the US stock market is going in a direction. If you may need that money in the next decade or ever it may be an excellent idea to diversify.

        This is not financial advice but the US exchange is highly volatile at the moment.

    • 1984@lemmy.today
      228·
      14 days ago

      Life experience.

      We have seen the crowd turn against someone, hating someone, many times. It always blows over. Thats why we dont talk about what happened a year ago anymore.

      Buying the stock now will pay off very much in a year from now, unless Tesla goes bankrupt, which I doubt. Musk has powerful friends.

      I fact, I think it hit bottom a few days ago, at 232 dollars. It has recovered to 250 in the last few days.

      • NotSteve_@lemmy.ca
        19·
        14 days ago

        Even if it does recover like you say, you’re cool with gifting money to an actual nazi who’s dismantling the US government?

        • 1984@lemmy.today
          01·
          13 days ago

          I guess this is a good argument. I think elon is a child with mental issues. And obviously he is part of destroying what America stands for in the world.

          I dont own Tesla stock at the moment, but when it starts going up, tons of people will jump on that train just to make money. Maybe you too.

          • stringere@sh.itjust.works
            2·
            13 days ago

            I dont own Tesla stock at the moment, but when it starts going up, tons of people will jump on that train just to make money. Maybe you too.

            So: “I don’t have a moral compass when it comes to financial invesments and assume you don’t either.”?

        • 1984@lemmy.today
          01·
          13 days ago

          Haha :) I actually missed that train completely. I remember doing minor day trading but not being successful in that one.

      • joekar1990@lemmy.worldEnglish
        0·
        13 days ago

        Tesla has been losing ground for a while. They were one of the first mass produced EVs with charging infrastructure, but now what makes them special? They have positioned themselves as a software/ai company but it was just a way to boost stock price. They don’t have full self driving (fsd) that’s been promised as next year for the past 10 years. On top of it they only rely on cameras for fsd and no lidar systems so I don’t think they’ll ever get full clearance outside the US.

        So even if they ditch Elon I’m not sure if the sentiment can be brought back. Sure they may not go bankrupt but the stock should fall in line with other auto manufacturing companies.

        • 1984@lemmy.today
          02·
          13 days ago

          Nothing makes them special today, but things can quickly change. Lemmy has such a young audience so many here dont seem to get that, but lets see where it is in a year.

          I wish Lemmy would have the “remind me in a year” function…

          • swab148@lemm.ee
            1·
            13 days ago

            Lemmy actually skews older, and also there is a remindme bot on Mastodon that works on Lemmy.

          • syreus@lemmy.world
            1·
            13 days ago

            If you have a moment I would love to talk to you about a rich investment opportunity best know as artisanal gourds. Not since Blockbuster has the soil been so rich and the climate been so perfect for artisanal gourds. If you act now I have a bridge that is heavily discounted we can discuss.

      • buddascrayon@lemmy.world
        0·
        13 days ago

        While he is actively dismantling the government we all rely on it will not just “blow over”. Also, Tesla as a company is on a downward track no matter what. What happens to a car company when no one buys their cars anymore?

        • 1984@lemmy.today
          02·
          13 days ago

          It goes down in value on the stock market for a while. Revenue reports will show less profits.

          But all this is temporary.

    • entwine413@lemm.ee
      28·
      14 days ago

      That’s why he doesn’t want them to sell. If the price drops low enough, the banks will make him sell all of the shares that he used for collateral to purchase Twitter. Cashing in billions in shares will be the final nail in Tesla’s coffin.

        • Auli@lemmy.caEnglish
          1·
          13 days ago

          I mean you usually need something to back your loan. Seems to me that is exactly how loans work.

          • HellieSkellie@lemmy.dbzer0.comEnglish
            0·
            13 days ago

            I mean it’s totally possible to set up weird loans like this, but I’d love to see some information proving that’s what Musk did for Twitter

            • GreyEyedGhost@lemmy.ca
              2·
              13 days ago

              Again, this is not weird in upper echelon financial strategies. And a quick search with the terms “musk Twitter Tesla collateral” got me a link to this article. You only have to read the first sentence for corroboration. And if you don’t trust an article posted by NASDAQ for information about stocks, I dont think I can do more to help you.

  • archonet@lemy.lolEnglish
    22·
    12 days ago

    when the CEO is begging shareholders “please don’t sell your stocks”, that is quite possibly the single biggest red flag for any company ever. That is “pull your money out yesterday” territory.

    • drzoidberg@lemmy.world
      21·
      14 days ago

      I mean, if Jim Cramer is telling me to buy something, I’m gonna sell it. If he’s telling me to sell, I’m gonna buy more. Never seen a stock guy wrong as often as him.

  • cronenthal@discuss.tchncs.de
    18·
    14 days ago

    While retail investors are buying up Tesla shares, insiders at the company are selling.

    That’s a quote from an article on the topic. Does that sound in any way ominous to you?

      • WhatAmLemmy@lemmy.worldEnglish
        2·
        13 days ago

        The oligarchs are probably just using retirement funds to transfer the losses from their criminal cronies to the people.

    • just_another_person@lemmy.worldOP
      2·
      14 days ago

      I’m pretty Lons just got into this because he thought he would be able to syphon government money into his companies. Stop using them, and that stops happening.

      He tried to make the jump from consumer goods, to military industrial complex. Fuck that shit right now.

  • justOnePersistentKbinPlease@fedia.io
    15·
    14 days ago

    It’s poor sales *from last year Q1 compared to 2023 Q1.

    We’re not even looking at 2024 Q2-4 or 2025 Q1 yet. Telsa might be completely underwater at this point.

    • Auli@lemmy.caEnglish
      1·
      13 days ago

      Or just returning to where it should be. The stock should never have been valued that high.

  • shaquilleoatmeal@lemm.eeEnglish
    14·
    12 days ago

    I may not know anything about the stock market, but I think this means everyone should sell their stocks.

  • TerkErJerbs@lemm.ee
    14·
    14 days ago

    Saw a yt thing last night that over the past three months Tesla execs have sold over 175k shares too

  • Kalysta@lemm.ee
    11·
    13 days ago

    So he can sell his and cash out first?

    Nah. Tesla’s dead. Now we need to kill spacex

    • SeeMarkFly@lemmy.mlEnglish
      1·
      8 days ago

      A short history of what happens to Presidents in Peru From 2000 to now.

      Alberto Fujimori July 1990 to November 2000      (10 years +) Imprisoned,  Corruption and crimes against humanity.

      Valentin Panaigua November 2000 to July 2001      (9 months) Transitional President

      Alejandro Toledo July 2001 to July 2006          (5 years) Extradited, money laundering, collusion.

      Alan Garcia July 2006 to July 2011          (5 years) Suicide, accused of bribery and corruption.

      Ollanta Humala July 2011 to July 2016          (5 years) Imprisoned, accused of bribery and corruption. That’s two Presidents in a row!

      Pedro Kuczynski July 2016 to March 2018                 (almost 2 years) Under House arrest, accused of bribery. At least there is no corruption (charges).

      Martin Vizcarra March 2018 to November 2020     (2 ½ years +) Ousted in Coup. Accusations of moral competence.

      Manuel Merino SIX DAYS                                (6 DAYS) Resigned due to protests and riots.

      Francisco Sagasti November 2020 to July 2021      (9 months) Transitional President

      Pedro Castillo July 2021 to December 2022              (1 ½ years) Detained. In custody, attempt to dissolve Congress.