Tesla Sinks 50% From November Record High as Troubles Pile Up

[Johnrambo]

(Bloomberg) -- Tesla Inc. shares tumbled about 50% from their all-time high, amid a broader selloff in the US stock market that has hit growth and technology companies especially hard.

The electric vehicle-maker’s shares closed down 7.6% to $204.99 on Friday, taking its market capitalization to $642 billion. The decline has now sliced in half the stock’s Nov. 4 record closing high of $409.97.


The plunge comes amid a wider meltdown in the markets, as the specter of an economic slowdown rattles investors already bracing for the impact of rising inflation and higher interest rates. Riskier growth stocks with rich valuations have borne the brunt of the selloff.

Tesla’s own list of woes are long: Vehicle delivery in the third quarter took a hit due to logistical troubles, and some analysts warned that the climbing prices of the company’s cars may also weigh on demand at some point. On top of that, Tesla’s factory in Shanghai has faced disruptions due to Covid-19 lockdowns in the city. The company has also dealt with supply shortages and a surge in raw material costs, as has almost every other automaker around the globe.

Chief Executive Elon Musk’s highly public attempt to first buy Twitter Inc., then to walk away from the deal and buy it again, has also been a drag on the stock, due to concerns that the company’s leader is spreading himself too thin between several challenging ventures.

https://finance.yahoo.com/news/tesla-sinks-50-november-record-202622740.html

 

[syed putra]

They forgot to add increasing competition in EV's and super cheap ones coming in from China,

 

[glockman]

Time to load up!

 

[winners]

They forgot to add increasing competition in EV's and super cheap ones coming in from China,

Musk's EV technology is slowly but surely being siphoned away by the Chinese competitors. He truly deserves it for over trusting the Chinks.

 

[mojito]

Is the u crane curse. That what u get for helping a corrupt regime in oppressing their own people.

 

[mudhatter]

question is how much money did pap-piglets' lose now that yankee markets are plunging? yankes cowboys have raised interest rates which means eunuch loongs' gic and temasick lost hundreds of billions of virtual money.


won't stinkies now scream in joy shiok ! shiok ah!?

 

[Datingafter35]

View attachment 164844
(Bloomberg) -- Tesla Inc. shares tumbled about 50% from their all-time high, amid a broader selloff in the US stock market that has hit growth and technology companies especially hard.

The electric vehicle-maker’s shares closed down 7.6% to $204.99 on Friday, taking its market capitalization to $642 billion. The decline has now sliced in half the stock’s Nov. 4 record closing high of $409.97.


The plunge comes amid a wider meltdown in the markets, as the specter of an economic slowdown rattles investors already bracing for the impact of rising inflation and higher interest rates. Riskier growth stocks with rich valuations have borne the brunt of the selloff.

Tesla’s own list of woes are long: Vehicle delivery in the third quarter took a hit due to logistical troubles, and some analysts warned that the climbing prices of the company’s cars may also weigh on demand at some point. On top of that, Tesla’s factory in Shanghai has faced disruptions due to Covid-19 lockdowns in the city. The company has also dealt with supply shortages and a surge in raw material costs, as has almost every other automaker around the globe.

Chief Executive Elon Musk’s highly public attempt to first buy Twitter Inc., then to walk away from the deal and buy it again, has also been a drag on the stock, due to concerns that the company’s leader is spreading himself too thin between several challenging ventures.

https://finance.yahoo.com/news/tesla-sinks-50-november-record-202622740.html

They cannot meet demand. So stock fall. I see a premium here.

Apple new iPhone is no different then last year but many still buy. I see a brand here. But price still tank.

Market like certainty. So US dollar is still going to prop.

I can say so much I still catch a falling knife. Lol.

 

[winners]

Elon Musk will pay his price for setting up his plant in China.

Those Chinese EV makers are stealing its Intellectual Property Rights and also poaching TESLA's employees. There's even a model from XPENG which is almost a replicate of a TESLA model, right up to its dashboard display.

BYD has already surpassed TESLA's sales in China and is even more aggressive in promoting its EV sales worldwide. Elon Musk, an African born US citizen, has no fucking good foresight. His short term gain will definitely lead to his long term pain. Just like his being a loser to acquire Twitter at such an overprice tag.

This forthcoming BYD Model: SEAL, is going to beat TESLA hands down: Costing less than US$40k and with a 700km range, TESLA will definitely be going on its knees in time to come.

BYD Seal - Should Tesla Worry?​

This Chinese EV Is Going To Be A HUGE HIT In Europe​

 

[bushtucker]

USD156/share. Good time to enter now?