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EggProfessional995 t1_j1yqxkq wrote

Reply to comment by Significant-Stay-760 in The best part in movies is when the actor casually walks away from something they just blew up by Technical_Staff6949

People who blame Musk for the price action on Tesla are just ignorant. That company has been criminally overvalued for a long time and now it's going back to its fair valuation.

Anybody who thinks that a car company selling less than a million cars a year is worth more than the entire rest of the industry should not invest a single dollar outside of S&P500.

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Ontheroadtw t1_j1zss9n wrote

Musk putting his crazy out in the open didn’t help. Sure it was over valued but mr wizard pulled the curtain back.

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actias_selene t1_j1zd2k4 wrote

The reason why Tesla was valued very high compared to rest of the car industry was mostly due to all the debt burden other companies were carrying and Tesla was improving their margins and sales enormously.

It goes down now because it no longer seems like they can keep growing at the pace expected previously. Mostly, thanks to Tesla CEO portrait an image of a kid who doesn't know what he wants to do as well as alienating its customer base.

Now the spell seems to be lifted, people are talking more about reliability and issues of their cars more openly.

In any case, I think q4 2022 and q1 2023 reports will be very decisive for the future of the stock. It also matters if we will see any change in leadership of Tesla.

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