As much as I think TSLA/SPCX are overvalued there is nothing unique about their drop compared to many other companies in the last day or two. I wouldn't even hazard a guess on whether the floor has fallen out on anything yet, it could just as well be a temporary reaction to the election results and volatility following the uncertainty of that for these types of companies.
Of course one can always pick a set of tickers and day ranges that make it seem like any trend if you filter the view enough.
Last year Tesla sold 1MM cars in us+China and another 150K in Europe. In the same period BYD sold about 3 million EVs.
Last MONTH (October) BYD sold 500K EVs. The US is propping up Tesla by keeping BYD out. I’ve driven several and they are great cars, much nicer than the aging Tesla line.
Japanese cars came in in the 70s and almost killed the US market. The Big Five became the Big Three (GM, Ford, Chrysler) and learned how to make cars again.
They then squandered that and are back where they were in the 70s, or worse.
> Last year Tesla sold 1MM cars in us+China and another 150K in Europe.
... Wait, really, it was that low?! VW AG sold about a million BEVs last year; at this point Tesla may actually be in third place (or even fourth, depending on what Geely's up to these days).
Lots of competition from other good car companies. I just used BYD because they are the biggest single EV company; they aren't a majority of EV production though.
We already have uber and Lyft and taxis and our own cars and some other self driving things and bikes… and isn’t Apple supposedly coming out with a car sometime? This isn’t special and a lot of city dwellers aren’t interested in supporting musk anymore.
If you book a cybercab the price is significantly cheaper than an Uber or Lyft. You can book one to get across Austin for literally half the price of the competition.
I took screenshots of the prices I have paid because I was so happy with only having to pay $7 to get across my city.
Apple killed their car program years ago. I know because I work there.
>aren’t interested in supporting musk anymore.
That may be your personal political take, but there is no evidence that politics are slowing their growth in a meaningful way. There is still strong interest in Tesla products, products like Starlink are growing at an incredible rate, Starship launches command huge livestream viewership, there's an entire industry of Youtubers which break down and discuss the engineering and logistics of SpaceX rockets.
> but there is no evidence that politics are slowing their growth in a meaningful way.
Musk got a lot of favors and basically his way with the out going power holders, its why he spent so much so the party wouldn't end.
One I was just reading about (while looking for Hinojosa's first plans, cleaning up the education department); was there was a quiet deal being worked on for spaceX to buy a beachfront state park [0] and that she remarked about Texas no longer being for sale.
I wouldnt be surprised if all the investigations into his companies deals happen. The attorney general got ousted for a democrat too who already said there will be a massive overhaul to how the office is used -- no more being maga's private law firm. Lets hope Musk and his companies did everything above board when working the massively corrupt outgoing gang.
I have ridden in a cybercab several times and they are omnipresent in my city. They work extremely well and are scaling quickly. "No prospects for growth" is a pretty wild take given the obvious new things they are building.
Regardless of whether private people participate, the actual robotaxi network they are running is real and growing quickly. Are you saying that self driving taxis are not going to be popular? Or is it just that the private citizen program will not materialize?
Regardless of whether private Tesla owners end up participating in the robotaxi market it does seem obvious that self driving taxis are going to be huge. Waymo and Cybercabs are growing quickly and will almost certainly completely dominate the market. Why would you ride in a Uber with a stinky driver (and pay more) when you could ride in a self driving taxi without a driver for cheaper?
It is almost as exciting as the transmutation of base metals into gold, the panacea, and the elixir of longevity — all of which I’m told are just around the corner at Musk’s companies
There's plenty of business leaders who are just as overtly political. Few of them make the evening news. Probably because few of them are building the largest rocket, charger network, space constellation, global internet provider, etc. in the world.
I'd say the bigger tragedy is the recklessness with which he acted to dismantle the federal government, illegally exfiltrate vast amounts of private data, and cause hundreds of thousands of people in the third world to die from starvation or lack of medicine.
This imbecile should have stayed out of politics. There is no coming back from what he did.
Are we really shocked when their entire IPO was predicated on AI the companies primary future revenue and American voters just told the market they're not gonna make that easy?
Also, what's with this site? It only has a single article.
EDIT: Judging from the URL/title, it's some (AI-generated?) thing that reuses the title from https://www.reddit.com/r/technology/comments/1xow42o/tesla_a...
GOOG -2% in 5 days
META -4% in 5 day
INTC -6% in 5 day
NVDA -9% in 5 day
TLSA -10% in 5 days
ASML -9% in 1 day
AVGO -10% in 1 day
MU -17% in 1 day
NVDA -9% in 1 day
SKHY -13% in 1 day
TSMC -10% in 1 day
As much as I think TSLA/SPCX are overvalued there is nothing unique about their drop compared to many other companies in the last day or two. I wouldn't even hazard a guess on whether the floor has fallen out on anything yet, it could just as well be a temporary reaction to the election results and volatility following the uncertainty of that for these types of companies.
Of course one can always pick a set of tickers and day ranges that make it seem like any trend if you filter the view enough.
Last MONTH (October) BYD sold 500K EVs. The US is propping up Tesla by keeping BYD out. I’ve driven several and they are great cars, much nicer than the aging Tesla line.
That's why the US car market is so 'unique' and American brands struggle in foreign markets.
They then squandered that and are back where they were in the 70s, or worse.
... Wait, really, it was that low?! VW AG sold about a million BEVs last year; at this point Tesla may actually be in third place (or even fourth, depending on what Geely's up to these days).
Why is their stock price flat tho?
I took screenshots of the prices I have paid because I was so happy with only having to pay $7 to get across my city.
Apple killed their car program years ago. I know because I work there.
>aren’t interested in supporting musk anymore.
That may be your personal political take, but there is no evidence that politics are slowing their growth in a meaningful way. There is still strong interest in Tesla products, products like Starlink are growing at an incredible rate, Starship launches command huge livestream viewership, there's an entire industry of Youtubers which break down and discuss the engineering and logistics of SpaceX rockets.
Musk got a lot of favors and basically his way with the out going power holders, its why he spent so much so the party wouldn't end.
One I was just reading about (while looking for Hinojosa's first plans, cleaning up the education department); was there was a quiet deal being worked on for spaceX to buy a beachfront state park [0] and that she remarked about Texas no longer being for sale.
I wouldnt be surprised if all the investigations into his companies deals happen. The attorney general got ousted for a democrat too who already said there will be a massive overhaul to how the office is used -- no more being maga's private law firm. Lets hope Musk and his companies did everything above board when working the massively corrupt outgoing gang.
[0] https://www.texasmonthly.com/news-politics/boca-chica-spacex...
Starlink is a Tesla product? Both SpaceX and Tesla are counting it as their sale, wow!
Regardless of whether private Tesla owners end up participating in the robotaxi market it does seem obvious that self driving taxis are going to be huge. Waymo and Cybercabs are growing quickly and will almost certainly completely dominate the market. Why would you ride in a Uber with a stinky driver (and pay more) when you could ride in a self driving taxi without a driver for cheaper?
Those are at Musk's companies already.
no
I think Elon Musk says a lot of things.
I'm not speaking for the parent, but clearly it's easy to lament Musk's overtness without implying that everybody is doing it to a similar degree.
This imbecile should have stayed out of politics. There is no coming back from what he did.
> Tesla shares close at record high, boosted by 69% pop since Trump election victory
SPCX was not public back then, but I suspect it would have followed similar trends. In any case, Elon's still come out ahead. For now.
Will be interesting to see how Musk and his companies weather this storm