Tesla Stock Is Plunging Again. It Could Drop for a Ninth Straight Week.
Tesla Stock Is Plunging Again. It Could Drop for a Ninth Straight Week.
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I wonder if Elon is probably going to bail on Tesla after he gets all his SpaceX stock hooked into government contracts and stuff.
Some youtuber was saying as much. A lot of his wealth is tied up in Tesla and a lot of Tesla's valuation is tied up in Musk. But Starlink is making far more than Tesla, he owns a larger portion of it than Tesla, and he's selling Tesla shares. If he makes the right moves he can entirely walk away from Tesla and leave the shareholders holding the bag.
Couldn't he just, like, sell his shares like a normal person? Nobody's stopping him, right?
Pretty sure he can't, since he isn't a normal person, just like he and the rest of the board have to announce any shares they buy or sell.
holding the bag
And not doing shit that tanks the stock price and sales.
There are good indications that the stock is overvalued by as much as 10 times, even after the recent drops in stock prices. A lot of that appears to be propped up by his hype. If the stock just normalizes to values typical of other car companies, it will be a major blow to anyone that owns the stock.