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by mcv
127 days ago
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Exactly. It's meme stock. There's no rational explanation for this ridiculous valuation. Tesla has been overvalued for a long time, and not by a bit either; they're worth more than the next several car makers put together, yet sell less cars than any of them. Their high valuation could still be considered defensible when they were the fastest growing car company in the world and the only one selling electric cars. But none of that is true; everybody is selling electric cars now, and BYD is selling more than Tesla, I think. And instead of growing, Tesla is now shrinking in many markets. Even their self driving is not the best. The share price should have collapsed, yet it remains high. How? It makes no sense to me. |
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Honestly, that's the easy part. Cynical, degenerate gambling.