this post was submitted on 23 Aug 2023
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Tesla's value plunged nearly $200 billion since mid-July – and the EV maker faces a bumpy road ahead::Tesla shares closed Tuesday at just over $233, well down on their 2023 peak of $291.

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[–] Furbag 2 points 1 year ago* (last edited 1 year ago)

Elon's business model was not to be in the car business long term but the your-car-is-also-a-taxi business and reaping the profits of not just selling cars but ride-sharing too. Triple dipping if you count the supercharger stations, basically collecting a fee every time you use your car. I can see the bull run when things are framed from the perspective of magical Christmasland, but there's a slightly larger than zero but still basically zero percent chance that FSD on Teslas will ever work autonomously and their cars are getting smoked domestically because they have competition now where they didn't before.