Tesla recently lost nearly 50% of its $1.5 trillion market. JPMorgan analysts don't know another car company that lost so much value so quickly.

Tesla has lost so much value in such a short period of time that JPMorgan analysts said they couldn’t think of another comparable moment in automotive history.

    • RupeThereItIs@lemmy.world
      11·
      10 hours ago

      I’ve been saying for a long time that Teslas ultimate fate was to become just a brand of one of the major OEMs. Unfortunately for Musk he has ruined the brand name and now the long term reality is they will end up being liquidated for patents only, when they fail to compete (by 2035 is my guess)

      Up until recently they’ve had no real competition in the EV space, that has forever changed and Tesla has proven unable to adapt.

      Musk sullying the brand and his reality distortion field failing will be the final nail in the coffin.

      • naeap@sopuli.xyz
        7·
        10 hours ago

        2035 is quite generous
        In my opinion, they already started to fail to compete, as they try to cheap out on pretty much everything
        They only thing, they still have going is a very good drive train and battery/range - which is obviously very important for a car/EV, but it’s far from the only thing, that matters

        • FlexibleToast@lemmy.world
          3·
          8 hours ago

          They were definitely already on the down trend. They haven’t refreshed their designs at all. Also, they were already marking the cars down to try and sell them.

  • stoy@lemmy.zip
    30·
    13 hours ago

    Tesla has been a bubble waiting to burst for a long time now, all I can say is “finally”

    • nilo@lemm.eeEnglish
      13·
      13 hours ago

      I remember I bought some Tesla stock back in September 2019 knowing full well that it was a bubble. I just believed in their vision. My friends made fun of me for buying into the hype. I sold the stocks when they doubled in price. Now, even after the recent fall, the stock price is more than 10 times what I bought them…

      • ZikejiEnglish
        12·
        13 hours ago

        Any gain is a gain. I had to learn this after Bitcoin. Bought a bunch at $100 a pop, sold them later when it hit $250 a pop. This was a day or two before it skyrocketed to ~$1400. Kicked myself then, but came to terms. Now look at them lol.

        • glimse@lemmy.world
          1·
          8 hours ago

          I had to sell all my bitcoin to hire a lawyer when someone tried to commit title fraud on my condo in 2015. Didn’t really have a choice but goddamn does it hurt considering I was in debt because of it for the next 5 years