Tesla was under pressure Thursday after issuing a warning about production growth in 2024 and reporting Q4 results that fell short of expectations.
TSLA is so wildly overvalued that it had room for huge swings though. I am curious if they will come back from it again now that Elon has shown himself to be an over privileged idiot rather than the wunderkind that everyone previously thought he was. People no longer respond nearly as well to his “it’s coming” promises. Plus the fact they had to downgrade their battery ranges after gaslighting their own customers, Consumer Reports has shown them to be pretty unreliable, etc all have to be piling up against them.
On a call with analysts, CEO Elon Musk did confirm that the company’s next-gen vehicle will be coming in the second half of 2025.
Confirmed: it’s not coming out until well after 2025.
Their stock is down 28% in the past month, putting them at 28% (ironically) higher than this time last year. That’s nothing to scoff at and is still a better return than any other American car manufacturer I’ve seen but the drastic drop is concerning
Compared to Ford Motors down 9% from a month ago and down 10% from last year. GM down 3% from the last month and down 2% from last year.
The market is tanking across the board, but Tesla is tanking hard fast. We’ll see how far it goes.
