Herbert Diess - tried to emulate Tesla is gone and VW led by EV deniers Akio Toyoda - promoted to level of incompetence and Toyota remains in EV denial Mary Barra - leads the EV revolution at GM Jim Farley - wants to emulate Tesla like Diess tried ... vultures are circling So what are your objections to Elon Musk? Bob Wilson
I was more interested in your personal objections. But I'm OK with leaving it. Looks like TSLA is doing OK, $194.76. Still a ways to go to reach the price I sold my last batch at. Bob Wilson
If you don't like Tesla and disdain for Elon Musk, skip this video: The adoption "S" curve is real and California leads. Bob Wilson
Meanwhile, the ongoing fiasco that is Saint Elon's management of Twitter gets even more hilarious. https://www.theverge.com/2023/2/9/23593099/elon-musk-twitter-fires-engineer-declining-reach-ftc-concerns
Curious, in another forum a bunch of non-Twitter posters are all up in arms about ‘child pornography’ which these soon to be ex-employees don’t mention once. Perhaps they should organize a union? Actually the unemployment rate is so low, who would join? Bob Wilson
Stock price today reflecting some disappointment in yesterday's Investor Day. Sound like the future strategy and projections were a little too vague. Best positives were continued focus on lowering costs, and vertical integration with new lithium plant coming online in a year.
Tesla lost over 12% of its value last week, closing at $173.44. It was a bad week for stocks overall, but Tesla lost more than double what the major indices lost. Meanwhile, in the April Motor Trend (a magazine that's generally been quite friendly to Tesla), Angus MacKenzie makes a compelling case for the stock being wildly overvalued. I can't find it online or I'd link to it -- sorry.
Tesla first quarter deliveries best ever but still below estimates, despite big price cuts: https://www.reuters.com/business/autos-transportation/tesla-misses-first-quarter-delivery-estimates-2023-04-02/
The estimates are the rabbit. Production is the tortoise. One has no mass while the other will carry and please the buyer. Bob Wilson
I think this is a case of Tesla not being able to increase production as much as hoped, rather than some sort of slackening of demand. At least, for some models. I can see Model S and Model X demand slacking, but I think the Model 3 and Model Y are still production limited.
So, it seems the shortfall of numbers didn't have a devastating effect on the stock. Looking at the 5-day chart, it basically lost a couple days of gains. I think this is a win for the bulls.
The stock rose dramatically last week based on the delivery estimates, then lost almost that entire gain today based on the real numbers. I struggle to understand how that's a win for the bulls. Overall, though, the EV market is going through a rather scrambled phase in the U.S., with changing rules on federal incentives -- and some confusion about those rules -- and companies facing challenges as they ramp up production, while continuing to adjust vehicle prices. Expect more ups and downs for a while till things clarify -- and don't discount the possibility of Elon's increasingly erratic behavior at Twitter chasing away customers as EV alternatives become more widely available.
I think if the market truly thought the result was indicative of longer-term issues, the price would've gone done somewhat more. The price has clawed up from its January-early-February depths and if the outlook was bleak, I think the price would show more signs of returning there. I had expected a more significant drop after Sunday's results were posted - maybe another $20 down - but the market wasn't as reactionary as I thought it might be, so I think there's still lots of optimism among investors.
So... Tesla's stock declined nearly 10% today after Wall Street digested the first quarter earnings results. Meanwhile, Saint Elon's management of Twitter continues to be a hilarious disaster, the latest manifestation being v 3.0 (at least) of Musk's insane paid verification plan. LeBron James and Stephen King declined to pay for their blue checkmark, so to maintain the illusion that this is working, Elon paid for them himself. Anyone who thinks this man is capable of stable management of any company over the long run needs their head examined.
