alt Hacker NewsGiven less than stellar sales how come TSLA stock is not far below all times high and 15% higher than a year ago? Investors still expect some miracle?
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The market can remain irrational longer than we can remain solvent.
And possibly also the overt government corruption is priced in.
It's a cult. Really. This is a stock devoid of any connection to reality, fundamentals, products, anything. All that matters is that Musk is on the nameplate. Do not bet against the ability of people in a cult to remain irrational in the face of overwhelming evidence. Do not touch the cult.
God help us all if AI takes over the stock market and starts making rational decisions!
See also: meme stock
Still making fantastic profit every quarter. So there's really no issue.
It's not a car company anymore, it's an energy company... Ahem, I mean self-driving... Er, maybe robots? ... Okay, that not going so well? How about quantum? That's probably a thing, right?
Tesla seems basically priced based on hype, rather than anything relating to its actual business.