Have we finally reached Maximum Musk? — via drivingdotca LuxuryVehicles ElectricVehicles ElonMusk
Many who bought into the Musk-worshipping cult are, like my uncle, riding the beast all the way down. Baron Partners Fund, which, according to Reuters,, fell nearly 43 per cent last year. Musk’s most sycophantic acolyte, Cathie Wood, and her once high-flying ARK Innovation ETF, are down a whopping 67 per cent last year.
Nor should these talk of billions be dismissed as just the rich getting their comeuppance. Tesla is, like Nortel was, a keen retail investor play, everyone from pensioners to employees to countless Model-S-owning fanboys caught up in what might turn out to be the greatest destruction of wealth in corporate history. Of course, that also means—, Musk’s current holdings, including “exercisable options,” total 424 million shares. At current prices, that works out to about US$48 billion.
Elon Musk and his mother Maye Musk arrive for the 2022 Met Gala at the Metropolitan Museum of Art on May 2, 2022, in New YorkWhile that should be more than enough to feed the kids — though at the rate Mr. Musk procreates, perhaps not for eternity — it could severely restrict investment going forward. And, sinceTwitter has been a terrible distraction for Musk
Choose any descriptor you want, no matter how disrespectful. Cluster@#%&. S#!tshow. None do this Twitter mess justice. In fact, no pejorative in the English language, no matter how derogatory, is an adequate description for. Never mind the half-baked conspiracy theories or the return of Donald Trump, deciding the fate of the US$44-billion company — and, by association, once-US$1.
But subjectively, the fact that there be parking lots full of unsold Teslas when eager consumers used to have to wait in line for six months is probably just as much a reason for the stock’s precipitous fall from grace. That seeming lack of enthusiasm has also resulted in some other changes, like how—Article contentNothing says “slow sales” in the auto industry more than offering consumers cash back.
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