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 LINKš]
www.nytimes.com/2024/07/02/b...
oh well that's because they are totally gonna solve self-driving by the end of the year, just like Elon said they would by the end of 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023
Oh and also, each car will be a super computer that's also part of a distributed network of AI and also he's going to make fully sentient robots and also he's going to put people on Mars and also and also and also ...
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.
A far more enduring meme than most of /r/wsb for sure. One with institutional buy-in given the inexplicable market cap. "Media darling" a better analogue.
I honestly think what happened is that, after the SEC implicitly said Musk can pump and dump, no problem, and investors realized the feds don't give a shit, they jumped in on the grift.
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.
As long as the memestock effect continues - and the company remains nominally afloat - they're going to live in a very different reality than mere mortal companies.
... darkly funny that the article went back to Henry Ford's antisemitism for "baggage" on that brand, but all they came up with on Volkswagen was fraudulent emissions testing
I mean ... to be fair, it's not Volkswagen helped make ovens for the camps ... right? I think?
What's even funnier: google why Mistubishi has a triple diamond emblem that sort of resembles the propeller on an airplane ...
At most lonnie is just narrowing his market.
It's not about the cars, it's always the stonk.
Hey, notice how lonnie isn't making non-stop stonk and shorts jokes anymore?
If you're going to be *the* face of a large company that sells a product with wide appeal - like automobiles - you need to cultivate a more bland image than Musk is capable of
