Are you still confident ‘week 3’ in January will present as a...

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Dave10

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14/01/23

09:31

Post #: 65688561
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Originally posted by 1ronnie: ↑

Recent Tesla car buyers just got shoved as the company just announced close to 10pc price cut in US and some countries including China, and little wonder the stock is tanking, first from production issues, then Elon losing credibility selling his Tesla stock presumably due to Twitter commitments and now the price cut. This might be the only car company that cuts prices even when demand is still strong , actually perhaps the only car company that cut prices. The reason Tesla is doing this is because it is beginning to lose market share, customers now have more EV choices and Tesla’s head start is being chipped away by competitive Chinese and European models. Once the richest man on earth, Elon has lost something in the order of $200B in net worth , the biggest wealth loss on record substantially more than the previous record of $50B by soft banks Masayoshi Son.
His biggest mistake: buying Twitter (and I did say he was going to pay dearly for it).
But it doesn’t really matter. Because even a $1B is too much money to have and to spend.
Even with money these days, you have to wait ages to buy the car you want especially EVs and hybrids - you never thought that could happen.
Funny times we live in , rents can continue to go higher even when times are getting tough, yet employment is doing ok , so it’s a very different recession.

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Are you still confident ‘week 3’ in January will present as a commencement of a significant downdraft, Ronnie? Despite bank earnings out of US warning of choppy waters ahead, the market was resilient again overnight with a strong close.. Its an intriguing market atm.
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0 Great analysis

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