Tesla is an oddity that’s for sure, the company isn’t even profitable. The share price is propped up by people who think Elon musk is cool and are trying to save the planet.....idiots and people riding the idiots....hey not that far off from GME actually!
I have friends who hold large positions in Tesla and I’ve been telling them to sell forever and they didn’t and I was wrong. One day I’ll be right though but that will most likely be when all stocks tank so doesn’t count, but it will tank harder than any of them.
Right, Tesla is a speculation pick. If they truly make good on their promises of having robot driving cars they will essentially be able to print money by sending out an unlimited number of robot cars as taxis to compete with Lyft and uber.
If you own a thousand of those robot driving taxis in every city, all you pay is the car maintenance and send the robot out to drive its Tesla taxi. The robot doesn’t need to sleep or take breaks it is only limited the amount of charge in its energy tank.
Maybe each one makes $1000/day from its 20 hour workday, $350k per year per robot car after you factor in maintenance and the energy costs . You don’t have to pay the driver or pay any sort of payroll company it’s just a robot.
Tesla’s stock price is based largely on Elon musks unrealistic promises to achieve all of this in the next 6 months. Even if it takes six years instead of six months, the price of Tesla stock totally cheap.
However we don’t know if it will take Tesla 6 months to get all of this approved or 6 years or 15 years and maybe Uber or google gets there sooner. That would throw a wrench into everyone’s Tesla investment .
I don’t own any Tesla and don’t plan on buying any.