this post was submitted on 26 Apr 2025
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United States | News & Politics
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Yeah well tell that to the stock market. It closed Friday at 285 and has done nothing but go up all week.
One thing these quarterlies have proven is that anyone still holding Tesla stock is, at this point, either holding so little that they can treat it as a meaningless gamble, or a full on cultist.
The two things that consistently get people to buy more TSLA are Elon repeating obvious lies about features that they will absolutely not deliver, and Elon promising to do more micromanaging of a company that desparately needs less of his micromanaging. There is nothing rational or intelligent about that behaviour. It's a group of people going long on outcomes that are unsupported by all available evidence.
But a stock price staying high will only put off total systemic collapse, it will not prevent it. At some point a company does have to sell products at a profit. Even the South Seas Company failed eventually.
If you have a 401k you are probably a holder of Tesla stock since it's in the index funds.
This is one of the bigger problems with the current stock market where investment decisions for a huge amount of the capital in the market is being made mechanically by looking only at the market capitalization of the company. We end up in a hyperreal situation where if you pump hard enough on a stock you can basically "manifest" a blue-chip label on it and then leverage everyone's retirement accounts to keep it