Tesla and SpaceX lose over $420B in combined market cap in the two days

Posted by Pepitobombito 14 hours ago

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Comments

Comment by jml7c5 13 hours ago

This analysis would be more convincing if other major tech companies hadn't fallen a similar amount today. It's a broad tech selloff.

Also, what's with this site? It only has a single article.

EDIT: Judging from the URL/title, it's some (AI-generated?) thing that reuses the title from https://www.reddit.com/r/technology/comments/1xow42o/tesla_a...

Comment by j16sdiz 13 hours ago

Similar amount?

GOOG -2% in 5 days

META -4% in 5 day

INTC -6% in 5 day

NVDA -9% in 5 day

TLSA -10% in 5 days

Comment by zamadatix 12 hours ago

AMD -17% in 1 day

ASML -9% in 1 day

AVGO -10% in 1 day

MU -17% in 1 day

NVDA -9% in 1 day

SKHY -13% in 1 day

TSMC -10% in 1 day

As much as I think TSLA/SPCX are overvalued there is nothing unique about their drop compared to many other companies in the last day or two. I wouldn't even hazard a guess on whether the floor has fallen out on anything yet, it could just as well be a temporary reaction to the election results and volatility following the uncertainty of that for these types of companies.

Of course one can always pick a set of tickers and day ranges that make it seem like any trend if you filter the view enough.

Comment by jml7c5 12 hours ago

I think you mixed up 1 day and 5 day on a few of those. I think these are correct (they're just the Google search tickers):

  GOOG  -2% (1 day)  +1% (5 day)
  META  -4% (1 day)  -2% (5 day)
  INTC -10% (1 day) -24% (5 day)
  NVDA  -9% (1 day) -13% (5 day)
  TSLA -11% (1 day) -13% (5 day)
  SPCX  -9% (1 day) -10% (5 day)

Comment by thelastgallon 13 hours ago

Tsla has a PE of 380 with YoY degrowth over multiple years and no prospects of growth.

Comment by gumby 12 hours ago

Last year Tesla sold 1MM cars in us+China and another 150K in Europe. In the same period BYD sold about 3 million EVs.

Last MONTH (October) BYD sold 500K EVs. The US is propping up Tesla by keeping BYD out. I’ve driven several and they are great cars, much nicer than the aging Tesla line.

Comment by apexalpha 9 hours ago

The US has had protectionist measures for its car market since forever.

That's why the US car market is so 'unique' and American brands struggle in foreign markets.

Comment by gumby 9 hours ago

Japanese cars came in in the 70s and almost killed the US market. The Big Five became the Big Three (GM, Ford, Chrysler) and learned how to make cars again.

They then squandered that and are back where they were in the 70s, or worse.

Comment by rsynnott 5 hours ago

> Last year Tesla sold 1MM cars in us+China and another 150K in Europe.

... Wait, really, it was that low?! VW AG sold about a million BEVs last year; at this point Tesla may actually be in third place (or even fourth, depending on what Geely's up to these days).

Comment by dzhiurgis 9 hours ago

> BYD sold about 3 million EVs.

Why is their stock price flat tho?

Comment by gumby 8 hours ago

Lots of competition from other good car companies. I just used BYD because they are the biggest single EV company; they aren't a majority of EV production though.

Comment by sejje 12 hours ago

What do you think about cybercab & the incoming ability for private owners to participate?

Comment by glenpierce 12 hours ago

We already have uber and Lyft and taxis and our own cars and some other self driving things and bikes… and isn’t Apple supposedly coming out with a car sometime? This isn’t special and a lot of city dwellers aren’t interested in supporting musk anymore.

Comment by canucker2016 12 hours ago

I thought Apple canceled their car project - see https://carcody.com/apple-car-what-happened-to-project-titan...

Comment by Dig1t 12 hours ago

If you book a cybercab the price is significantly cheaper than an Uber or Lyft. You can book one to get across Austin for literally half the price of the competition.

I took screenshots of the prices I have paid because I was so happy with only having to pay $7 to get across my city.

Apple killed their car program years ago. I know because I work there.

>aren’t interested in supporting musk anymore.

That may be your personal political take, but there is no evidence that politics are slowing their growth in a meaningful way. There is still strong interest in Tesla products, products like Starlink are growing at an incredible rate, Starship launches command huge livestream viewership, there's an entire industry of Youtubers which break down and discuss the engineering and logistics of SpaceX rockets.

Comment by 1659447091 11 hours ago

> but there is no evidence that politics are slowing their growth in a meaningful way.

Musk got a lot of favors and basically his way with the out going power holders, its why he spent so much so the party wouldn't end.

One I was just reading about (while looking for Hinojosa's first plans, cleaning up the education department); was there was a quiet deal being worked on for spaceX to buy a beachfront state park [0] and that she remarked about Texas no longer being for sale.

I wouldnt be surprised if all the investigations into his companies deals happen. The attorney general got ousted for a democrat too who already said there will be a massive overhaul to how the office is used -- no more being maga's private law firm. Lets hope Musk and his companies did everything above board when working the massively corrupt outgoing gang.

[0] https://www.texasmonthly.com/news-politics/boca-chica-spacex...

Comment by thelastgallon 11 hours ago

> There is still strong interest in Tesla products, products like Starlink

Starlink is a Tesla product? Both SpaceX and Tesla are counting it as their sale, wow!

Comment by Dig1t 12 hours ago

I have ridden in a cybercab several times and they are omnipresent in my city. They work extremely well and are scaling quickly. "No prospects for growth" is a pretty wild take given the obvious new things they are building.

Comment by UltraSane 12 hours ago

Just hype and lies from Musk. He has been lying about self-driving cars for 10 years now.

Comment by Dig1t 12 hours ago

How is it a lie? You can literally book a self driving Tesla anywhere in the Bay Area or Austin. I see them driving around Austin every day.

Comment by UltraSane 12 hours ago

The hype and lies are about how profitable robotaxis will be and the claim that private people will be able to participate.

Comment by Dig1t 11 hours ago

Regardless of whether private people participate, the actual robotaxi network they are running is real and growing quickly. Are you saying that self driving taxis are not going to be popular? Or is it just that the private citizen program will not materialize?

Regardless of whether private Tesla owners end up participating in the robotaxi market it does seem obvious that self driving taxis are going to be huge. Waymo and Cybercabs are growing quickly and will almost certainly completely dominate the market. Why would you ride in a Uber with a stinky driver (and pay more) when you could ride in a self driving taxi without a driver for cheaper?

Comment by archagon 9 hours ago

Why would I ride in a Musk Nazimobile when I can just take a Waymo?

Comment by UltraSane 3 hours ago

Self-driving cars should be required to use sensors that directly and accurately measure distances to objects. Just guessing the distance using parallax is stupid.

Comment by jrflowers 12 hours ago

It is almost as exciting as the transmutation of base metals into gold, the panacea, and the elixir of longevity — all of which I’m told are just around the corner at Musk’s companies

Comment by sejje 12 hours ago

Have you heard of starship or the model y?

Those are at Musk's companies already.

Comment by jrflowers 10 hours ago

> Have you heard of starship or the model y?

no

Comment by 10111001 12 hours ago

> What do you think about cybercab & the incoming ability for private owners to participate?

I think Elon Musk says a lot of things.

Comment by noduerme 12 hours ago

so you're saying it's the best meme stock ever?

Comment by tehologist 12 hours ago

Still wildly over valued, only time even remotely profitable is with government subsidies.

Comment by ipsum2 12 hours ago

What is this random website that has a single AI generated article

Comment by ungreased0675 12 hours ago

Lawfare is coming, everyone knows it.

Comment by UltraSane 12 hours ago

If you mean enforcement of laws then yes.

Comment by BenFranklin100 13 hours ago

Tis’ a tragedy Musk can’t stay focused on building great companies instead of shooting his mouth off about politics.

Comment by rayiner 13 hours ago

Is this advocating for a return to the pre-2020 status quo for corporate behavior?

Comment by BenFranklin100 12 hours ago

Haven’t a clue what you’re talking about.

Comment by rayiner 12 hours ago

I assume you're pining for the early 2000s when companies steered clear of talking about political issues.

Comment by darkwi11ow 12 hours ago

I live in Europe and here companies stay silent about political issues.

Comment by happytoexplain 12 hours ago

Musk is easily the most overtly political/shitposty business leader. Second place is so far behind it's not even clear who that would be.

I'm not speaking for the parent, but clearly it's easy to lament Musk's overtness without implying that everybody is doing it to a similar degree.

Comment by 2 hours ago

Comment by timschmidt 10 hours ago

There's plenty of business leaders who are just as overtly political. Few of them make the evening news. Probably because few of them are building the largest rocket, charger network, space constellation, global internet provider, etc. in the world.

Comment by noduerme 12 hours ago

Well, the proof is in the eating so we'll find out whether bluster is more valuable than performance.

Comment by archagon 8 hours ago

I'd say the bigger tragedy is the recklessness with which he acted to dismantle the federal government, illegally exfiltrate vast amounts of private data, and cause hundreds of thousands of people in the third world to die from starvation or lack of medicine.

This imbecile should have stayed out of politics. There is no coming back from what he did.

Comment by for_i_in_range 13 hours ago

Never bet against Elon.

Comment by noduerme 12 hours ago

"I never bet against (Kirby? Ohtani?)" is a common phrase in baseball betting; usually a minor input that I should think about going the other way.

Comment by pacomerh 12 hours ago

I lost all respect for him given his idiotic involvement with the government. And other obvious things.

Comment by vayup 13 hours ago

$420B can't be coincidence. Musk engineered the fall perfectly.

Comment by bch 13 hours ago

Alternative target was$800Bs

Comment by hedora 12 hours ago

There’s always tomorrow.

Comment by contingencies 13 hours ago

Space lasers :) Pass the spliff.

Comment by 13 hours ago

Comment by ericd 13 hours ago

Nvidia lost more than that by itself…

Comment by keeda 8 hours ago

Don't forget though: https://www.cnbc.com/2024/12/11/tesla-reaches-record-boosted...

> Tesla shares close at record high, boosted by 69% pop since Trump election victory

SPCX was not public back then, but I suspect it would have followed similar trends. In any case, Elon's still come out ahead. For now.

Comment by etchalon 12 hours ago

Are we really shocked when their entire IPO was predicated on AI the companies primary future revenue and American voters just told the market they're not gonna make that easy?

Comment by dmitrygr 13 hours ago

so did everyone else. so?

Comment by bagacrap 13 hours ago

Not I

Comment by Eji1700 13 hours ago

Eh while you’re not wrong everyone else doesn’t have crazy P/E ratios and a personality cult as part of its price.

Will be interesting to see how Musk and his companies weather this storm

Comment by aerodog 13 hours ago

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