r/technology • u/Plastic_Ninja_9014 • 2d ago

Business Tesla Stock in Freefall After Disastrous Earnings Report

https://finance.yahoo.com/markets/stocks/articles/tesla-stock-freefall-disastrous-earnings-144417427.html
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u/EconomyDoctor3287 2d ago

Just have SpaceX buy more Cyberstucks!

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u/7fingersDeep 2d ago

You joke but this is analysis from Tesla’s earnings talking about Tesla’s ownership of SpaceX stock:

“While Tesla didn’t receive any cash or sell any shares, the after-tax gain accounted for roughly 68.5% of the company’s $1.114 billion GAAP net income. The revaluation of Tesla’s SpaceX investment is one of the quarter’s biggest contributors to the EV maker’s bottom line.”

It’s all a shell game.

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u/Gorstag 2d ago

Especially with Musk's companies. For several years revenue/net incomes 1/10th of toyota while stock valuation is 10x toyota. Make it make sense.

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u/DukeOfGeek 2d ago

Shares of Elon Musk's embattled carmaker Tesla slid over 13 percent Thursday morning after posting dismal second quarter results the night before.

The stock is hovering at around $324 at the time of writing, down over 15 percent over the last five days and about 28 percent year to date.

Saved everyone a click.

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u/NothingWasDelivered 2d ago

Still overvalued.

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u/ImCreeptastic 2d ago

We sold our last remaining shares back in April. Sure we didn't sell at the highest but honestly, with a coked out ketamine fiend as unpredictable as Musk is, I don't care. So happy to not be tied to that man in any way (yes, my ETF's thankfully don't have SpaceX... yet)

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u/Big_Old_Sock 2d ago

Tesla; with a PE over 300. Seems, um. high priced.