Summary

Elon Musk’s fortunes have plummeted by $148 billion amid Tesla stock plunging nearly 50%, government protests, and setbacks at SpaceX and Starlink.

A White House event with Trump, meant to boost Tesla, instead highlighted Musk’s growing desperation.

Musk’s other ventures are also struggling—SpaceX rockets have exploded during tests and Starlink lost a Canadian contract.

His role leading DOGE is generating backlash, with Musk appearing increasingly defeated in public appearances.

His reputation, which previously weathered controversies, now faces unprecedented challenges due to his political alliance with Trump.

Non-paywall link

  • Opinionhaver@feddit.uk
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    1 day ago

    Nobody loses anything when stock prices go down unless they start selling at a loss. Tesla stocks are up 48% from a year ago. They’re only doing bad compared to 2 months ago when the price was at all time high.

    • Gustephan@lemmy.world
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      1 day ago

      I don’t think that’s relevant in this case because I don’t think elon has the capacity to understand that. He’s a man that pays to cheat in online gacha games for clout; he is not emotionally built to handle seeing number get smaller and reacting rationally to that

      • Opinionhaver@feddit.uk
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        1 day ago

        Whether Elon understands this or not is irrelevant. The stock market’s mechanics don’t change based on his emotional reactions - paper losses aren’t actual until realized through selling. Your assumptions about Elon’s mental capacity are speculative and don’t affect basic facts: Tesla stock remains up 48% over last year. If you dislike Elon, that’s fair enough, but at least understand the basics before making claims about his comprehension.

        • Gustephan@lemmy.world
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          1 day ago

          So you’re telling me that stock markets don’t respond to investor sentiment, they respond to “basic facts”? Am I being trolled right now?

          • Opinionhaver@feddit.uk
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            1 day ago

            Nope, that’s not what I said. You’re building a strawman and moving the goal posts now. We’re talking about a single individual that you claim can’t emotionally handle seeing their stock value going down.

    • imetators@lemm.ee
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      1 day ago

      Shhhh. Lemmy doesn’t want to hear truth. Neither they want to hear that Musk actually doesn’t own tesla, only 12.8% of it. He still has billions of his own money and is set for life.

      Unless he got Luigi-ed, he has nothing to worry about.

    • Rusty Shackleford@programming.dev
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      1 day ago

      Considering their products’ build quality and service plans, I’d still short the ever-loving shit out of TSLA if I was wealthy enough to be able to qualify to take out short positions.