Two things can be true simultaneously:
1. Musk committed a catastrophically huge unforced error with his right wing buffoonery.
2. Tesla was MASSIVELY overvalued and a huge drop in valuation was inevitable regardless of Tesla’s performance.
1. Musk committed a catastrophically huge unforced error with his right wing buffoonery.
2. Tesla was MASSIVELY overvalued and a huge drop in valuation was inevitable regardless of Tesla’s performance.
4. The terminally online crowd that hates Elon only seem large because they are loud online.
6. the WSJ reports that tesla sales are down among democrats, who outnumber republicans 5:2 in EV sales: https://www.wsj.com/business/autos/elon-musk-turned-democrat...
big buys by Hertz, et al, have also been a disaster, with the company ditching most of their EVs due to higher costs.
most discussions about the other teslas have been mixed but generally positive, but that's mostly irrelevant to stock price unless they're going to buy new EVs every year; the average age of a car on the road is ~11 years. This means Tesla has now saturated it's potential market, is failing to grow it, and will likely start rent-seeking behaviors via subscription price increases to attempt make up for the losses; these will alienate a lot of current, mostly-happy users, and push others away. kia, ford, and chinese makers have good options, and they will win a lot of current and potential telsa customers.
in other words, musk has saturated, then alienated, his core market, and failed to expand into new ones.
to hit the real value of that stock price it's going to need to fall wayyyy more than 40%; we'll see if the market movers that hold a lot of tesla, like the saudis, will let that happen