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rest of the markets are broadly up as well lmao
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Jan 3, 2023 16:43
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presumably because the comfortable are busily dumping money into their new year's IRA allowance so hard that it's making Vanguard's servers crash yeah
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Jan 3, 2023 16:53
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jeez, that burned through almost a day's worth of volume in a little over an hour
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Jan 3, 2023 16:56
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E. lol
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Jan 3, 2023 17:01
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Jan 3, 2023 17:06
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broke sub-110 lol e: beaten by a better banner
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Jan 3, 2023 17:06
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it’s under 100?!
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Jan 3, 2023 17:07
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fart simpson posted:it’s under 100?! no, but it's about to go below 109
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Jan 3, 2023 17:09
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sub-109 now god it would be funny to see it sub-100 this week
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Jan 3, 2023 17:19
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Lain Iwakura posted:sub-109 now FTFY
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Jan 3, 2023 17:20
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price plunging like a tesla off a cliff
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Jan 3, 2023 17:27
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nudgenudgetilt posted:price plunging like a tesla off a cliff full self-diving....
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Jan 3, 2023 17:30
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lol it beat the 52 week low (dropping to 108.05) down 12% for the day so far apparently they missed big on their deliveries vs their forecasts quote:That represents a 47 percent increase in production year on year and a 40 percent increase in deliveries over the same time period, Tesla says. lol lmao https://arstechnica.com/cars/2023/01/tesla-misses-2022-q4-target-share-price-drops-further/
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Jan 3, 2023 17:30
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quote:Shares of Tesla Inc. TSLA, -12.04% tumbled 10.3% in morning trading Tuesday, to start the year as the S&P 500’s SPX, -0.67% biggest decliner, in the wake of the electric vehicle maker’s disappointing deliveries data. The selloff retraces 90.0% of the $14.08, or 12.9% bounce the stock enjoyed over the past three days, after closing last Tuesday at the lowest price since Aug. 13, 2020. 
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Jan 3, 2023 17:32
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oh come on
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Jan 3, 2023 17:32
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this also seems significantquote:Tesla Inc. is set to pay more for the lithium that powers its electric vehicles after a supplier amended their deal to reflect a surge in prices for the metal.
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Jan 3, 2023 17:34
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qirex posted:this also seems significant Tesla still doesn't make its own batteries, I thought. They are all Panasonic provided? They have a pilot plant, but its not really up to meeting their current needs.
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Jan 3, 2023 17:36
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CommieGIR posted:Tesla still doesn't make its own batteries, I thought. They are all Panasonic provided? They have a pilot plant, but its not really up to meeting their current needs. maybe panasonic has them source the lithium? not sure what else they're doing with 125,000 metric tons of it besides making batteries
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Jan 3, 2023 17:37
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below 107 he's heading for the hard deck!
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Jan 3, 2023 17:37
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Beeftweeter posted:oh come on lol, busted past that fast. 107, here we come
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Jan 3, 2023 17:38
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FMguru posted:lol it beat the 52 week low (dropping to 108.05) yeah this is super bad for a manufacturer because it means they're holding inventory (probably at some dumb valuation because it's tesla, unless GAAP forces you to do it differently), but are probably locked into contracts for materials that mean their future costs are "fixed"
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Jan 3, 2023 17:38
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someone in cspam noted that the numbers are actually worse than that, they have like 50k vehicles "in transit" in the us which means either tesla is so incompetent they can't move a couple of cars around to their destination or they're trying to hide inventory. neither is good from an investor perspective
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Jan 3, 2023 17:40
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also man i really hate nasdaq's horrible purple -> turquoise gradient lol
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Jan 3, 2023 17:42
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their battery supply chain is… complicated? iirc panasonic runs the part of the nv megafactory that builds batteries as a joint venture but investor story time is vertical integration so it wouldn’t surprise me that supplying lithium is on tesla’s books
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Jan 3, 2023 17:42
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It's also insane that they're padding numbers with preorders for stuff that doesn't exist when the demand for the stuff they actually do make is falling as everyone else overtakes them on quality and price. like i want to say that for china Geely or whoever they are are making EVs now and that'll stomp them locally
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Jan 3, 2023 17:44
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FMguru posted:lol it beat the 52 week low (dropping to 108.05) they didn't just miss them, they missed them after offering generous rebates for taking December deliveries to juice the numbers and still couldn't do it
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Jan 3, 2023 17:46
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Powerful Two-Hander posted:It's also insane that they're padding numbers with preorders for stuff that doesn't exist when the demand for the stuff they actually do make is falling as everyone else overtakes them on quality and price. they're already getting stomped, the nyt says some company named "BYD" now has the most electric car sales in china quote:China, the world’s largest car market, is a big focus of investor concerns. The sharp rise of Covid cases in China has weighed on demand and forced the company to periodically suspend production at its biggest factory, in Shanghai.
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Jan 3, 2023 17:46
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tesla had a ten-year lead on everyone in making mass-market electric vehicles and theyve almost completely frittered that away
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Jan 3, 2023 17:47
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rename tesla the golden state warriors
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Jan 3, 2023 17:49
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Powerful Two-Hander posted:It's also insane that they're padding numbers with preorders for stuff that doesn't exist when the demand for the stuff they actually do make is falling as everyone else overtakes them on quality and price. the numbers for china were particularly bad, idr where they were posted but from sept-oct they fell off by about 40k and never recovered lol
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Jan 3, 2023 17:49
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oh huh BYD is actually the biggest electric car manufacturer in the world??? tesla sold 1.3 million cars worldwide last year, BYD sold 1.9 million
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Jan 3, 2023 17:49
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yeah BYD is huge and is expanding into europe. i don't think they'll try and crack the american market just because of the rampant xenophobia but they're coming
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Jan 3, 2023 17:51
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Beeftweeter posted:yeah BYD is huge and is expanding into europe. i don't think they'll try and crack the american market just because of the rampant xenophobia but they're coming Are their cars any good?
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Jan 3, 2023 17:56
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Just-In-Timeberlake posted:they didn't just miss them, they missed them after offering generous rebates for taking December deliveries to juice the numbers and still couldn't do it
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Jan 3, 2023 17:56
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Arsenic Lupin posted:And they blew delivery on many of those, blaming the weather. There are a lot of angry would-be Tesla buyers who want to know why the discounts they were promised vanished. i mean, they'll still get the discount, it'll just come in a $7,500 tax credit starting january 1 instead of $7,500 off the price of the car right?
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Jan 3, 2023 17:58
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had to go into the tunnels to deal with a dead machine I return to the light and see this beautiful, happy tuesday
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Jan 3, 2023 17:58
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TSLA is being charged with battery of its own stock 
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Jan 3, 2023 17:58
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Powerful Two-Hander posted:(probably at some dumb valuation because it's tesla, unless GAAP forces you to do it differently) GAAP requires you to carry inventory at “lower of cost or market value”, i.e. you book it at whatever it cost to build it, and you can’t mark it up, you can only mark it down from there. there are ways to monkey around with the accounting for inventory - usually in which expenses you allocate as cost of manufacturing versus overhead costs, or in lying about how many units of inventory you actually have - but “overvaluing inventory” is not at the top of the list of the places in Tesla’s books I’d be looking into for accounting fuckery. (if I were their auditor, I would spend more effort digging into it from the opposite angle - I would be testing to see if they’ve overstated sales/understated inventory by marking cars as “sold” before they’ve actually been delivered to customers.)
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Jan 3, 2023 17:59
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 Not even noon! Maybe sub-$100 is actually possible today. 
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Jan 3, 2023 18:00
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tesla's not doing so good we should do a big government bailout for them
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Jan 3, 2023 18:01
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