Posted on Jan 6, 2023
Tesla's stock lost over $700 billion in value. Elon Musk's Twitter deal didn't help
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https://www.npr.org/2023/01/06/ [login to see] /tesla-shares-elon-musk-twitter-electric-cars
For several years, the meteoric rise of Tesla stock has captivated, thrilled and mystified Wall Street. But in 2022, that meteor blazed out.
The electric-carmaker's stock lost 65% of its value in 2022. And the company kicked off the new year with yet another plunge, dropping 12% in a single day after disappointing sales figures were announced.
That's not only bad for investors. It's also bad for Tesla CEO Elon Musk, who has a big chunk of his wealth tied to the automaker and is no longer the world's richest man.
For several years, the meteoric rise of Tesla stock has captivated, thrilled and mystified Wall Street. But in 2022, that meteor blazed out.
The electric-carmaker's stock lost 65% of its value in 2022. And the company kicked off the new year with yet another plunge, dropping 12% in a single day after disappointing sales figures were announced.
That's not only bad for investors. It's also bad for Tesla CEO Elon Musk, who has a big chunk of his wealth tied to the automaker and is no longer the world's richest man.
Tesla's stock lost over $700 billion in value. Elon Musk's Twitter deal didn't help
Posted from npr.org
Tesla Motors
Stock Trading
Stock Market
Wealth
Posted >1 y ago
Responses: 3
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If Elon Musk does not have rescue plan, Twitter could go the way of MySpace and Tesla could go the way of Pontiac.
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LTC Eugene Chu
CPT Lawrence Cable - Some big difference exists between those stocks and Tesla/Twitter...
Elon Musk sold almost $4 billion in Tesla shares to help purchase Twitter. Additional multi-millionaire or billionaire investors are also involved. If neither the car company or social media company can turn around stock value loss, Elon and other investors could be branded as failures with loss of company control.
https://www.nbcnews.com/news/us-news/elon-musk-sells-least-395b-tesla-shares-twitter-takeover-rcna56300
Elon Musk sold almost $4 billion in Tesla shares to help purchase Twitter. Additional multi-millionaire or billionaire investors are also involved. If neither the car company or social media company can turn around stock value loss, Elon and other investors could be branded as failures with loss of company control.
https://www.nbcnews.com/news/us-news/elon-musk-sells-least-395b-tesla-shares-twitter-takeover-rcna56300
Elon Musk sells at least $3.95B of Tesla shares after Twitter takeover
Musk sold 19.5 million shares of Tesla, according to filings with the Securities and Exchange Commission.
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CPT Lawrence Cable
LTC Eugene Chu - Supposedly Twitter made a profit last quarter after Musk got rid of 75% of the employees. Tesla has existed on government subsidies for electric cars and, as far as I know, has never made a profit from actually selling cars.
The value of Tesla, META, Twitter and Google has always been highly speculative, how much is Google really worth? The infrastructure for a tech company doesn't have a big footprint and is only a small part of the of the current stock values.
I've never figured out if Musk is a genius or a Con Man, maybe a bit of both.
I think we will see the death of zombie companies that haven't made a profit for years. I don't see the fed backing down with inflation this high, so interest rates will go up.
The value of Tesla, META, Twitter and Google has always been highly speculative, how much is Google really worth? The infrastructure for a tech company doesn't have a big footprint and is only a small part of the of the current stock values.
I've never figured out if Musk is a genius or a Con Man, maybe a bit of both.
I think we will see the death of zombie companies that haven't made a profit for years. I don't see the fed backing down with inflation this high, so interest rates will go up.
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LTC Eugene Chu
CPT Lawrence Cable - Made a profit? Twitter lost money last quarter due to traditional advertisers leaving the platform. The Musk layoffs supposedly cut into muscle instead of trimming fat.
We shall see if political ads can pay off the debt that the company incurred under Elon's leadership. The value is not purely speculative. It may continue going down if public market investors no longer spend money to own shares.
https://www.cnn.com/2023/01/04/tech/twitter-political-ads/index.html
We shall see if political ads can pay off the debt that the company incurred under Elon's leadership. The value is not purely speculative. It may continue going down if public market investors no longer spend money to own shares.
https://www.cnn.com/2023/01/04/tech/twitter-political-ads/index.html
With its advertising business in crisis, Twitter eases ban on political ads | CNN Business
More than three years ago, Twitter prohibited political and issue-based ads amid broader concerns that politicians could pay to target social media users with false or misleading information.
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CPT Lawrence Cable
LTC Eugene Chu - There really isn't any solid Twitter information for the last two quarters of 2022 that I can find yet. Twitter dropped a half a billion dollars in 2021 and lost money in 2020 also. How much worse can Musk do to make a difference.
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All business is in trouble this year. It’s amusing to see just free thinkers and Conservatives singled out.
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