And every other car manufacturer has valuation multiples 12x lower than Tesla’s. Musk’s worst nightmare is investors treating Tesla like a car company. That’s why he keeps pushing on “Tesla is an AI company that makes cars, not a car company.”
“Terrible” is just for attention, but the bit of news that would have cratered any other company’s stock it that it’s down 71% YOY. Plus:
Regulatory Credits: $2.8 billion of profit came from selling regulatory credits, not from core business activities.
People in the current administration have said they plan to end these credits in the coming months. Without them in 2024 Tesla would have reported a $500million loss for the year.
Yeah, that started a week or two ago. Altman dropped the AGI promise too soon now he’s having to become a sci-fi author to keep the con cooking.
This one is paywalled, but if you hit the firefox reader mode button quick enough you can bypass BI’s content blocker.