Summary
Elon Musk gave Donald Trump a scripted sales pitch during a White House event where Trump inspected Teslas.
Photographers captured Trump holding notes with phrases like “SAFEST car” and “affordable.” The stunt followed a 15% drop in Tesla’s stock, linked to backlash over Musk’s involvement in DOGE.
Trump defended Musk on Truth Social, blaming the decline on a “Radical Left” boycott.
Meanwhile, Musk’s other ventures, including X and SpaceX, are struggling with outages and test failures.
Jesus, Trump is really in deep with Musk.
Also, the 15% stock drop is nothing compared to the decline in actual sales. The P/E ratio is still way too high, but the stock will drop eventually if this decline continues. Keep up the Tesla dealership protests too.
You know, set aside the boycott for a second, everyone knew Tesla was way, way, way over valued.
Like don’t get me wrong, dude is a slimy rat and he’s getting everything he deserves. But even way back in 2018/2019 I remember everyone saying Tesla was over priced by ten/fifteen fold.
So even ignore the whole boycott and a massive correction was bound to happen. It is so stupid Musk getting on TV and turning on crocodile tears because everyone is being mean to him. Dude, your company has been over valued for, at least as long as I remember, over half a decade.
This shit was bound to crash hard. That’s how it works. Fly high, fall fast. Such a fucking bitch boy he is. Take your fucking correction just like everyone else.
Respectfully disagree that this is a correction. To me correction implies that the stock was more or less fairly valued prior to the correction.
~not investment advice~
Elmo has hyperinflated his stock by lying repeatedly, documented for years. He has created such a massive awkward autistic echo chamber that a bunch of “the end is nigh people” began believing he’s the messiah to save us from Earth (let that sink in) and bring us to the promised glorious utopian paradise with luscious field, fertile lands and epic waterfalls… eh… Mars. This spinning is Elmo’s only true value and why the boards of his companies put up with him.
Both Musk and Trump have this reality distortion field like Jobs had, but there’s almost nothing of substance underneath.
I don’t think this market is correcting. It may look like it for a while. The AI bubble and companies like Musk who are valued by groupies, not investors may actually really crash mush harder.
Yeah, it was valued at more than multiple handfuls of other car companies combined - like all other US car companies combined, for example, ridiculous. Many investors have pointed out it’s an overvalued meme stock for years, that it’s just banking on Musk pulling more rabbits out of hats.
It’s got me worried why. Yeah, Musk pretty much bankrolled his campaign, but is that really all takes to make a lapdog out of Trump? The man who has shown zero loyalty to anyone but himself? I guess he seems pretty loyal to Russia, but that’s a different story.
All it takes did include him becoming richer and a “celebrity” that likely can’t be prosecuted for any of his crimes for the rest of his life.
Payback all his family loans to Russian Oligarchs , done. I mean not long ago he couldn’t find financers to pay his legal bills because all his properties had money owed on them. His own son had said they didn’t need U.S. banks because their funding came from Russia. Cutting off enforcement of sanctions on Russian Oligarchs likely got him some of what he needed to pay off those debts, while asking Congress to get rid of them will likely clear more.