this post was submitted on 30 Dec 2023
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Chinese Carmaker Overtakes Tesla as World’s Most Popular EV Maker (www.bloomberg.com)
submitted 10 months ago by boem@lemmy.world to c/technology@lemmy.world
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[–] mosiacmango@lemm.ee 1 points 10 months ago* (last edited 10 months ago) (1 children)

Tesla stock goes up because it goes up. Thats about it.

The company had high margins and a commanding lead for a desirable auto segment, but at this point its losing ground. The stock goes up because it increased 7x during covid because of lies and hype, so its a Bitcoin/GameStop style meme engine now. It dips and people buy buy buy. It has very little to do with company fundamentals.

[–] gila@lemm.ee 2 points 10 months ago* (last edited 10 months ago)

They print profits out of thin air by earning carbon credits through ZEV program and selling them to other manufacturers. It was 30% of their profits this year and enables competitors to stave off actually making any EVs, leaving Tesla as the only game in town in the US