Comment by andix
1 day ago
I'm not sure if the stock price means a lot. Tesla is kind of a meme stock, people buy it based on vibes, not based on what it's worth.
But this technology is as useless as a toothbrush with a rocket engine. Some rich car crazy guys will buy it, sure. But maybe a few thousand units. This technology doesn't bring any substantial revenue for a billion dollar company. People who own this rocket car it will try it out once or twice and then it will end up in some pretty garage for a few decades.
> people buy it based on vibes, not based on what it's worth.
There's a little secret you should know about the value of all stocks...
Some are, not all of them. If a stock pays dividends above inflation for decades, it's not just a meme.
Most companies are valued at a price that somewhat reflects their current or near-future revenue. Tesla is mostly hopes and prayers. This doesn't mean they won't come though. But it's valued like the chance of living up to their promises is nearly 100%.
Many stocks pay regular dividends. Notably, Tesla never has.
All fancy sports cars are useless. Like really. To race them? What’s the point?
A lot of people actually drive them occasionally.
But there is also not a lot of money to be made on supercars. A lot of those manufacturers are struggling financially for a good reason. Extremely expensive to develop, hard to manufacture at scale and limited pool of buyers.