Tesla sales crash 45% in Europe as rivals surge, Musk’s politics spark backlash
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...and Tesla is massively overgeared w.r.t. stock price relative to earnings. Companies normally have a valuation which is 5-40x their earnings. (NVDA 40x, AAPL 35x, GM 7x, Stellantis 6.5x)
Tesla is currently 138x, and they're down nearly a third this month. They were 200x at their last earnings call I think.
Tesla is a hypestock that will crash when the AI bubble bursts and self-driving dies as a concept.