Comment on Tesla Stock Is Plunging Again. It Could Drop for a Ninth Straight Week.

lobut@lemmy.ca ⁨1⁩ ⁨week⁩ ago

• GreyEyedGhost@lemmy.ca ⁨1⁩ ⁨week⁩ ago

  Some youtuber was saying as much. A lot of his wealth is tied up in Tesla and a lot of Tesla’s valuation is tied up in Musk. But Starlink is making far more than Tesla, he owns a larger portion of it than Tesla, and he’s selling Tesla shares. If he makes the right moves he can entirely walk away from Tesla and leave the shareholders holding the bag.

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  • conditional_soup@lemm.ee ⁨1⁩ ⁨week⁩ ago

    Couldn’t he just, like, sell his shares like a normal person? Nobody’s stopping him, right?

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    • GreyEyedGhost@lemmy.ca ⁨1⁩ ⁨week⁩ ago

      Pretty sure he can’t, since he isn’t a normal person, just like he and the rest of the board have to announce any shares they buy or sell.

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  • psud@aussie.zone ⁨1⁩ ⁨week⁩ ago

    holding the bag

    And not doing shit that tanks the stock price and sales.

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    • GreyEyedGhost@lemmy.ca ⁨1⁩ ⁨week⁩ ago

      There are good indications that the stock is overvalued by as much as 10 times, even after the recent drops in stock prices. A lot of that appears to be propped up by his hype. If the stock just normalizes to values typical of other car companies, it will be a major blow to anyone that owns the stock.

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