- cross-posted to:
- drudgereport@rss.ponder.cat
- cross-posted to:
- drudgereport@rss.ponder.cat
KEY POINTS
- Tesla CEO Elon Musk said on his company’s earnings call on Tuesday that he’ll spend much less time with DOGE starting in May.
- Tesla’s stock price has plunged more than 40% this year.
- The company on Tuesday reported an earnings and sales miss and said auto revenue dropped 20% in the quarter from a year earlier.
Seems like the stock was priced high because people thought the company would be growing. Now it is way down for the year but similar to where it was before the election. Was revenues dropping 20% priced in before the election? Seems unlikely. I would imagine Musk’s likely influence over the Trump admin from his massive donations was probably priced in, but isn’t that going to wane with his special employee status ending? Is Trump really going to continue to give tariff protections and White House advertising to Tesla without Musk ponying up more money?
Tesla stock was never tied to reality in anyway. It should price adjust.