Don't know about the rest of you, I'm putting a buy order in today. EV's aren't replacements for gas powered vehicles or even for hybrids. I view them as a tool in an arsenal. They have their place.
This coming from the guy who purchased a 2023 Tacoma TRD Offroad and LOVES IT!
Go Elon Go! Give 'em hell!!
I’ll wait til TSLA drops to $50/ share. They’re not done giving him the Trump treatment yet.
A perfect storm’: It’s anyone’s guess when Tesla stock will stop tanking
Brian Sozzi·Anchor, Editor-at-Large
Wed, December 28, 2022 at 5:59 AM EST·3 min read
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At this point, it may be easier to change a tire on a Model S in under 10 minutes than to try to call a bottom in Tesla’s (TSLA) battered stock.
Shares of the EV maker tanked 11.4% on Tuesday’s session on reports the company would run at reduced capacity at its key Shanghai plant through January, which raised fresh doubts on the current pace of consumer demand. Tesla’s ticker page was among the top three visited on Yahoo Finance, underscoring the ongoing angst on the always volatile stock.
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Shares shed as much as 4% in premarket trading Wednesday before rebounding.
In the wake of the latest drop, the startling stats on Tesla’s stock price (and anything tied to it) became that much more jaw-dropping:
One-month: -41%
Three-month: -60%
Six-month: -55%
Year-to-date: -70% (S&P 500 -19%)
Market cap lost year-to-date: $241 billion
Elon Musk net worth lost year-to-date: -$141 billion
Analysts contend the bottom is not yet in sight for the stock despite the bruising sell-off into 2023.
“Musk set off this five-alarm fire on Tesla’s stock and he is the only one that can extinguish it. It’s a perfect storm between the Musk Twitter fiasco and now demand cracking,” Wedbush analyst and vocal Musk critic Dan Ives told Yahoo Finance.
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In large part, the fact no one on the Street is trying to make a bottom call on Tesla’s stock reflects the mounting bad news swirling around the company.
First are the negative optics on demand both in the U.S. and China.
Tesla said on its website last week it will offer $7,500 discounts on Model 3 and Model Y vehicles delivered in the U.S. in December. That coincides with analysts slashing fourth-quarter delivery estimates ahead of them being reported in early January.
Then the elephant in the room remains — Musk’s continued chaotic running of Twitter and how it may impact the operations of Tesla.
The prospect of Musk selling more shares to fuel his turnaround at Twitter have also weighed on the stock. Musk said in a new Twitter spaces chat a week ago he wouldn’t sell anymore Tesla shares until 2024 at the earliest. He has this year made similar proclamations only to subsequently sell more stock.
In addition to producing cars, Tesla also builds the electric motors that position the rocket engines and steering fins on the SpaceX Falcon, Starship and Super Heavy launchers as well as designing and building the Optimus robots. They are more than j