The entire stock market is likely overvalued by 25% or so. This is a regression to the mean, accelerated by the fact that Musk no longer seems to care whether Tesla is successful or not. Probably because he sucked out all the money via that incentive package the board approved a few months ago.
Comment on Tesla Stock Is Plunging Again. It Could Drop for a Ninth Straight Week.
vga@sopuli.xyz 2 months ago
Aand still +30% from year ago.
sensiblepuffin@lemmy.funami.tech 2 months ago
DragonTypeWyvern@midwest.social 2 months ago
The pay was in stock options. It essentially doubled his ownership of Tesla from 12% to 25% so he in fact cares a lot about the price.
The stockholders are definitely morons for agreeing to it. Pay the fashgeld and you never get rid of the fash.
sensiblepuffin@lemmy.funami.tech 2 months ago
I didn’t know that, thank you! Also apparently a judge has blocked the awarding of the package?
DragonTypeWyvern@midwest.social 2 months ago
Yes, we’ll see if it sticks. The prior argument was that Elon effectively controlled the board, and when he convinced the shareholders to vote in favor as well he lied/threatened them and invalidated it. This is just cynicism but I wouldn’t particularly expect that to stick, but who knows? Im
PeteZa@lemm.ee 2 months ago
Trump apparently tried claiming it’s illegal to boycott Tesla. They’re most likely not happy about it lol