Earnings coming in tomorrow, and Earnings Call tonight at 5:30pm EST (a bit after market close).
This is mostly the announcement-for-the-announcement. One way or the other, we get data tonight and tomorrow.
Tesla stock is now almost half the value of the all time high in November 2021. https://finance.yahoo.com/quote/TSLA/
Elon Musk has claimed Tesla is worthless without AI, and now he is undermining that at Tesla. But even without undermining it, Tesla is already way behind on autonomous driving, the leaders are: 1 Waymo (Google), 2 Drive Pilot (Mercedes), 3 Cruise (GM). Although GM did have a setback in their program, they remain clearly ahead of Tesla. Apart from that we have 4 MobilEye, 5 Nvidia and 6 Hyundai who are probably also ahead, and then there may possible be 1 or 2 Chinese like 7 BYD and 8 Baidu, finally from Japan the leader is probably 9 Nissan.That means Tesla seems to be no higher than nr. 7 at best!! Meaning Tesla is very unlikely to be the one raking in the gold from being an AI world leader. Elon Musk threatening development can only push this further back, as talent will seek elsewhere in part due to Musk being erratic, and in part because it’s not the best option anyway.
But Tesla is also an energy company, except Tesla does not make the best batteries anymore. Other battery makers make both cheaper safer and denser batteries, sometimes even combining 2 of those attributes. So Tesla is very likely to face steep competition in the energy sector too. Batteries of course also have a strong impact on cars.
That basically leaves Tesla as a mostly ordinary car company, where many other manufactures have caught up on the technology, and are competing directly with Tesla that, apart from funny small city cars, had EV almost entirely to themselves for 10 years (2008-2018). But mainstream car manufacturers are catching up, providing real competition so Tesla has cut prices dramatically 3 times within a year, probably in an attempt to maintain market share.
So IMO it is not justified that Tesla is valued at 10 times as much as VW (market cap), while both have just over $3 earning per share, where a VW stock can be had for $13.57 Tesla cost $208.57 (at the time of writing).
Not to mention the terrible PR of Teslas breaking down and not charging in cold temperatures. Doors freezing. And real world results of the cyber truck getting less than 200 miles. Failing in the snow. Tesla may have been an important component of EVs becoming mainstream but Musk is only as good as the hype his company generates and most of it is smoke and mirrors.
Other battery makers make both cheaper safer and denser batteries, sometimes even combining
Who makes the best batteries? I need a backup battery for my house.
while both have just over $3 earning per share, where a VW stock can be had for $13.57 Tesla cost $208.57
Musk himself posted a drunken rant a couple years ago saying it was over-valued. That’s one of the few things he’s definitely right about. I’d say VW is worth considerably more than Tesla. Tesla is probably priced 20x more than it’s actually worth. It’s a meme stock, fueled by a memelord.
Who makes the best batteries? I need a backup battery for my house.
AFAIK the battery needs to fit your inverter, We use Growatt bought last summer, but that was a complete package with Panels, inverter, battery and setup.
I wrote Tesla as an energy company thinking more of industrial size battery parks. I thought Tesla Powerwall was basically already irrelevant. When I looked up the options, I never saw a company mentioning them as an option, so basically a no show here (Denmark).The Sodium-ION battery is perfect for the energy sector, and AFAIK Tesla is nowhere on that technology. These batteries are already commercially available for cars. Iron Air batteries are allegedly going to be even cheaper.
Unfortunately these new technologies are not yet available for home use. It’s easy to find “top” lists of best batteries searching “best solar battery”, but I found none that includes price or value.
Tesla is probably priced 20x more than it’s actually worth.
That’s very likely IMO, the current pricing is pure speculation, that Tesla will be insanely valuable once they corner the fully autonomous market, but that will never happen.
Tesla Powerwall still pays a lot for advertising, so they kept popping up in all those lists, and at the top of all my searches. I will never give Muskrat money though, so that’s a non-starter for me. Thanks for the recommendation. I’ll look into the brand you mentioned.
First search result I get: https://www.solar.com/learn/best-solar-batteries/
They are at the very bottom, almost like an honorary mention.
They are apparently more relevant in USA, but there are good alternatives. Growatt is Chinese, and IDK for sure, but it may have a hefty import tax in USA.
None of the brands I get for a US leaning search are common here AFAIK. Seems like the market is geographically segmented.
I’ve wanted to Tesla for years but there’s no accounting for the Elon Musk cult.
Even if teslas were magical unicorn cars they’d have to replace most car makers entirely to justify their stock price. It didn’t make sense. It only ever made sense if you believed legacy car makers would never be able to do R&D and self driving would replace all drivers entirely.
Thanks for the insight!
If something sounds to good to be true, then it probably is. In this case the sound is tesla stock… fuck Musk he is a criminal