I normally wouldn't bother sharing a story based on a survey of 7,500 NY Times readers, but in this specific case I'd say it's probably a pretty well-selected bellwether.
Elon Musk's Politics May Be Pushing Some Buyers Away From Tesla [GIFT LINK🎁]
www.nytimes.com/2024/07/02/b...
Memestocks are immune to the ratios and metrics that mere mortal stocks are judged by. Until something else captures the attention of the media and is welded into peoples' identities.
Not even really a memestock any longer; GameStop was a memestock.
Tesla is just openly doing grift as a business model, and investors love Musk for that.
I was arguing with a shareholder last week on X about how anyone could approve his pay package and he was like "Elon will add easily multiples of that to market cap" ... it seems like he's not wrong here
Yeah, I mean, Tesla is creating a contradiction in which very serious people have to both admit that Tesla's stock IS going up, they ARE getting wealthy, but also, it's not because of any actual retail operations they may or may not be engaged in.