[Disclaimer: I am not a financial advisor. This is not financial advice]
I should say butchered FURTHER. Anyone dumb enough to own that stock up at $400 has already been poleaxed for a 66% loss. Tesla is down about 43% since the start of the year. And it looks like a very ugly road ahead as the greentards finally start to realize that this whole “electric cars are awesome” fad was a very, very bad idea.
The stimmy checks are gone, there are a LOT of companies with better products, and consumers are finally realizing there are a LOT of cons to owning an electric vehicle.
I remember back in October of 2018, the TeslaClowns were predicting that earnings in December 2022 would be $23.79 per share. I took a screenshot of that 6 years ago and saved it because I knew that would be colossally wrong when 2022 arrived…
Even by the next year (October 2019) the estimates for December 2022 earnings had been almost cut in half to $12.95/share.
Want to know what the ACTUAL earnings were for 2023? $3.12
TeslaClowns dream of battery-powered 18-wheelers (a joke that will never happen) or retarded Optimus robots (humans dressed in tights) to save them now that it’s obvious Tesla is never going to master full REAL self-driving.
Even after Musk has been caught bullshitting and lying about a dozen times (hyperloop, man on Mars, Boring Company tunnels under every City, full self-driving by 2018, 100,000 robotaxis by 2020) the TeslaClown dummies STILL believe all his bullshit!
There are two ways I can immediately tell someone is a moron on sight: they are wearing a mask or driving a Tesla.
In my humble opinion, this is a $15 stock at best. Eventually it will get there, and it will happen even faster when some of Elon’s financial shenanigans are exposed in the end.
** UPDATE ** – AFTER EARNINGS
Literally every number from top line to bottom line is NEGATIVE for Tesla [EPS missed -9.1% and revenue missed -4.3%] – yet stock pops 11%…heading back to a P/E of 80. LOL.
Stock is up because Elon dangled a shiny object in front of people who cannot read financial statements or remember news from two days ago. Another vaporware promise (robotaxis coming August 8th!!) from Elon to stop the bleeding. Fanbois are eating it up.
They have been snorting FSD fairy dust for so many years, they cannot help themselves. Like Charlie Brown and the football. This will likely reverse when the 10Q is released next week.
So – $0.34 GAAP EPS fully diluted. Assuming things get no worse (HAHAHA) for the rest of 2024, that would be $1.36 GAAP EPS for the year. That works out to P/E of around 115 – or about 18 times higher than industry average…and revenue is falling.
Remember: back in 2018 the projected earnings for this “growth company” for 2024 were well over $30 a share – about 22x higher than they ended up being in reality.
I will take this opportunity to sell more short-dated, 25% OTM calls. Thanks for the free dough, suckers. Not financial advice!
BREAKING NEWS: Tesla will be laying off 2,688 employees at its Gigafactory in Austin Texas (12% of workforce there).
