Tesla sales drop for the first time since the financial crisis
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https://apnews.com/article/tesla-sales-2024-drop-electric-vehicles-69af17c4e606625694af8293db25b2f3
It’ll be interesting to tease out over time how much of this is regular market dynamics vs Elon trashing his personal brand among his natural market while the new friends he’s made don’t buy a lot of EVs.
Isn’t hurting his meme stock, which has gone crazy since Trump’s win, but discounted forward cash flows and market value can’t stay disconnected forever. (Though they can stay disconnected longer than you stay solvent, as the saying goes)
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As far as Elon’s value goes, SpaceX is still the ultimate balance. One public offering on SpaceX would solve a lot of financial issues…
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@jon-nyc said in Tesla sales drop for the first time since the financial crisis:
I don’t have a sense of the value of spacex. Does it report financials?
I believe Musk and some of the investors bought back some of the insider shares at $180 or so last month. That would put the current valuation north of $300B
They’ve got current contracts worth billions with the US Government and their most viable competitor has basically gone tits up over the last year.
Though I think Rocket Lab stands an excellent chance of picking off some of the the smaller satellite business.
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Once the inevitable falling-out occurs between Trump and Elon, I wonder if he'll start referring to him as Rocket Man 2.
