Tesla Model Y . And the stock price is down another 2% today. 1/09/2024. My prediction that Tesla cars would dominate sales has come true but I'm not getting the cha ching. I don't believe in continuously "buying the dip". The Street knows something us common Joe's don't.
In contrast, BUD sales are down but the stock price is crushing it. WTF.
Could have something to do with government investigations into Tesla. We hate government interference and meddling right? They are not after Tesla, they are after YOU, Tesla is just in the way. 😂😂
What about Hertz unloading about a third of their EV fleet? They had ordered 100,000 Teslas a couple years ago which really helped the stock move up.
Now with this latest announcement Tesla's share price got hit yesterday.
Stocks always seem to react to the news good or bad , and it's usually a bunch of noise, but it might have something to do with the current weakness.
It's BYD
It was overpriced to begin with. The stock. And the car keeps having its price slashed for market share. Elon doesn't want to lose MO. But it really affects financial performance and so the performance cant catch up to the stock price. Thus it stagnates and we are lucky it's stagnating. It could free fall. Remember this is a stock that was at one point valued as much as the rest of the industry combined.
The range estimate adjustment doesn't help. Tesla has developed a rep for over promise and underperformance when it comes to new models coming out. Timelines. Pricing. And now range. Elon fibs.
As to best selling? Kinda. The Ford F Series trucks sell better. The Chevy Silverado sells better. The GMC Sierra sells better and the Toyota Rav 4 sells better. Cars are on the decline. So Tesla is sort of winning a King of the dweebs contest there. Having said that, having one of the top 5-10 vehicles in the country or world and doing it in the timeline they have is quite remarkable.
But more cold water. Not sure if you saw but Tesla is no longer the worlds best selling car manufacturer. That now belongs to BYD So there are pressures all around