Rachel Bitecofer FTW

[highplainsdem]

Link to tweet

The day @elonmusk declared war on "wokeness" I said "that's a very bad business idea because that is
@Tesla's entire consumer base."

I ain't often right, but I've never been wrong

[Wounded Bear]

1. Not sure the "consumer base" is the same as the "investor base" but maybe...

I guess it was mostly entitled yuppies that were snatching those up, at least at the beginning.

[intrepidity]

7. Hard to maintain a company without consumers

And most investors understand that connection.

[Tommymac]

11. Tesla was doing Very Well in the high end luxury market...until Elon opened his mouth.

His consumer base is upscale peeps, probably most of who are liberal or green politically, who care about the Environment, not so much about cars per se.

In other words, in the US this means a large % of them are probably Democrats, or Dem leaning.

And he really is treating that base well.

[A HERETIC I AM]

18. It's been said about folks who buy Tesla's....

that they aren't automobile enthusiasts, they're technology enthusiasts.

Unfortunately, Tesla's fit and finish is bad, and there are plenty of vids showing it.

Granted, this vid was put up last March;

[IronLionZion]

13. There's plenty of overlap

If investors think there will be fewer consumers buying the product, they divest.

[lapfog_1]

2. the number of Teslas in Silicon Valley is simply astounding

like 1 in 10 cars that I see on the road.

I have a feeling that despite many here being "libertarian"... they really hate republicans and the whole MAGA crowd.

[Salviati]

16. Definitely a lot of Teslas in Seattle...

... maybe now not as many new ones.

Especially now that he's actually facing real competition that doesn't have the same fit and finish issues that Teslas have.

[Iggo]

3. Ouch.

[we can do it]

4. Burn it down to the ground.

[FakeNoose]

5. Are people who purchase Tesla cars, also the one who purchase Tesla stock?

I don't know the answer to that, but this graph shows Tesla stock tanking.

Her comment on Musk was about the car owners and a possible boycott.

[intrepidity]

8. They are related

Investors invest in companies that hsve a product *and* customers who *buy* that product. Investing 101.

Befuddled having to point that out twice in this thread.

[Wounded Bear]

9. Maybe because his comment was before both of yours?

[intrepidity]

10. Sure, but my point was that multiple posters

had the same confusion about how stocks work. I was surprised enough at the first instance, tbh.

[Tommymac]

12. I am an IT Geek. Very smart. But I have NO CLUE how Stocks work beyond the bare metal facts.

I put away a percentage of my salary in my 401K, buy my company stocks quarterly via payroll deduction.

The Dow deals with stock prices going up and down, and folks selling and buying them as the price determines.

The Nasdaq deals with...something similar.

The Bond Market deals with something similar. Famous brokers were Sean Connery, Pierce Brosnan, and Roger Moore.

I think one Stock Market is in Chicago and deals with grain, beef and pork futures. I saw that in an Eddie Murphy/Dan Aykroyd movie. Jamie Lee Curtis was a swiss girl, and I think an ape fell in love with Al Franken.

Wow, I do know stocks!

[ProfessorGAC]

22. There Are 2 In Chicago

The Chicago Board of Trade (CBOT) & the Chicago Mercantile Exchange (CME, or "The Merc&quot .
They operate pretty much the same but focus on different commodities.
And no, neither trades frozen orange juice concentrate futures!

[IronLionZion]

14. The most common stock valuation methods use earnings

so if investors think the company will lose customers and have lower earnings, they sell shares.

[Genki Hikari]

19. The sales aren't down, or expected to be

HOWEVER...

(Data firm) S&P Global Mobility...found that Tesla’s market share of new registered electric vehicles in the U.S. stood at 65% through the third quarter, down from 71% last year and 79% in 2020. S&P forecasts Tesla’s EV market share will decline to less than 20% by 2025, with the number of EV models expected to grow from 48 today to 159 by then.

https://www.cnbc.com/2022/11/29/teslas-dominance-of-evs-is-eroding-as-cheaper-cars-hit-the-market.html

So it will soon be a niche EV brand, rather than the dominant EV on the market.

[spooky3]

21. Don't forget that Europe is a big market too

Gasoline is very expensive there. When I visited one city there several years ago, all the taxis at the airport were Teslas, because the city bought them.

I wonder how they are reacting to Musk’s mismanagement.

[ProfessorGAC]

23. Also Interesting Is...

...the stock price continued to rise as the company had negative net income.
Now, they're making a profit and the stock fell.
Seems like many long holders realized this was a manufacturing company not a tech firm. As GM, Ford, Chrysler & Toyota expand their EV offerings, they will just be another in the market.
Some serious profit taking going on.

[LuckyCharms]

6. She must be a Deadhead

Well, I ain't often right, but I've never been wrong
Seldom turns out the way it does in a song
Once in a while, you get shown the light
In the strangest of places if you look at it right

~Scarlet Begonias (Garcia/Hunter)

[highplainsdem]

15. Closed at $123.15. Elon's "Christmas gift" to Tesla shareholders. YOU get a loss, and YOU get a

loss, and YOU get a loss...

[peppertree]

20. I'd bet dollars to donuts the Apartheid Ape has been shorting his own stock

That's how Larry Ellison made a killing, even as Oracle was crashing in '01.

[OMGWTF]

17. I've been driving an electric car (Chevy Volt) for eight years and I love it.

I always thought my next car would be a Tesla S but now, it's hell to the no! Eloon has ruined it for me. Fk that guy, there's a lot of competition that's looking better than a Tesla.

[Blue Owl]

24. I hope someday he learns the meaning of "brokeness"