Summary
A suspect vandalized and set fire to Teslas at a Las Vegas Collision Center early Tuesday in what police call a “targeted attack.”
The assailant, dressed in black, shot at five vehicles, torched two, and left an undetonated Molotov cocktail. They also spray-painted “Resist” on the building.
Authorities have not confirmed a political motive but noted Elon Musk’s ties to Trump. The FBI is investigating, warning that such acts are federal crimes.
Tesla has faced backlash amid Musk’s government role and far-right politics.
It raises the price they have to pay thousands of other teslas, and if it happens enough, insurance will drop them. Insurance companies don’t want to pay out, and they will pull coverage when it becomes too expensive for them to insure.
I just came across this relevant article this morning.
Absolutely. Insurance companies are in the business of not paying insurance claims. They’re not in the business of just wantonly giving out money. If they pay out to a client often enough, they drop that client. It’s even worse for the insurance companies, cause the cars haven’t even depreciated in value yet, they’re still on the lot and unsold. Their retail value is set, and every swasitruck that burns, is another $100k payout. Insurance companies will only pay out so many times before their risk assessment team says it’s not worth it.
And once you’re dropped from one company cause you’re a high risk, every other insurance provider raises their rates for you, or they refuse because they don’t want the loss.
Burn enough swastikars and there’s no insurance, and that’s when you start to literally burn his money.
Be that as it may, you’re not going to get me to even tacitly endorse arson. Sorry not sorry.
That’s great.
Nobody cares if you gasp at the sight of protest outside of the designated protest area . Just like nobody cares if you disapprove of a picket line blocking a road because how dare they.
I’m prefacing this clearly; I’m not endorsing anything here.
The current regime is restricting healthcare, trying to legislate people out of existence, and straight up disappearing people. Suffragettes torched and bombed.
Like what is the end goal here put Tesla out of business? Does anyone believe this would hurt Elon? Say Tesla went bankrupt, so now Elon musk would be worth $230 billion instead of $330 billion. He would live his life exactly the same but now thousands of normal people are underwater on their cars. How is this “winning”?
What am I missing here?
Basically people pissed off and need an outlet for that but can’t see the forest for the trees. 🤷♂️
TSLA market cap $766B. That’s a nice loss, if it could be achieved.
Besides, what you’re missing is quite obvious: the only thing that musk understands is fear. Make your own inferences.
You understand that he only ownes 10 or 15% of Tesla. The majority of that is probably held by index funds and other peoples 401ks. So again normal people would loose a lot of money.
If Tesla went bankrupt it would literally be a drop in the bucket for Musk. Also what would he fear? He can pay for his own boat or literal island and security. Saying people should go after musk vs go after anyone who drives a Tesla is very different.
$TSLA is a huge, bloated bubble filled with nothing but hype. If they were treated by the market as just a regular old car company (like Ford [$F] or General Motors [$GM]), their market cap would be a tiny fraction of what it is currently. Their market cap at the closing bell today is $724 billion, with a stock price of $224 per share. Compare that to Ford (which has more than twice Tesla’s yearly global sales figures) with a market cap of $39.4 billion and a stock price of $10 / share. Or to GMC (which has sales figures about 60% higher than Tesla’s) at a market cap of $48.4 billion and a stock price of $49 / share.
If Tesla’s stock was valued based on their actual business instead of investor hype driven by mind-boggling adoration for their CEO, their market cap would probably be around $20 billion, which with their current number of outstanding shares, would put the price at around $6.20 per share.
Ok, so you might throw out the fact that Tesla also sells batteries and has their hands in AI and other things. Those are all very small parts of their overall yearly business, but the market is also based on future expectations. Let’s say that a fair price for their stock would be maybe $10 / share. $12 at the absolute most.
It’s at $224 per share today. In December of last year, it hit a high of $480.
$TSLA is the modern version of the Dutch tulip market in the 1630s. Its perceived value bears absolutely zero resemblance to its actual value. You’re worried about investors losing their shirts on this, but this shit has been vaporware from the beginning. Anybody who based their investment strategy around Tesla’s stock has been playing roulette. Am I supposed to feel bad about them losing because they bet on black instead of red?
That’s a lot and totally irrelevant. Who here is arguing Tesla isn’t over valued? Not me.
My point was that do you have a pension, 401k or some retirement funds? They you are partially invested in Tesla. Will you lose your shirt, no. Would Tesla going to 0 hurt you more then Musk, probably.
Also dude Tesla releases financial statements. You can read them to find out exactly how it’s valued. That’s the point of them! All public companies do. Stop copying pasting from random website its not helpful nor did it add anything. Also Dutch tulip theory is a horrible comparison… Like what…
I’m thinking you guys live in an echo chamber.
Well, first of all, I didn’t copy paste shit. Secondly, I think the Dutch tulip theory is a completely apt way to describe something whose price is so completely disproportionate to its actual value. Thirdly, I have been tracking this shit for years, now, and I know a little bit about what I’m talking about.
I understand that a lot of people have tesla in their portfolios, either directly or through index funds. That doesn’t change any tiny bit of the point that I was making, which is that the stock is 100% based on hype alone. Stocks based on hype are not reliable - just look at $GME. So whining about the stock going down because people are mad at Elon and torching a few cars is fucking dumb. The stock could go down because of a rumor, or because Elon says something stupid at a convention, or because of any number of things. It’s vapor.
Okay well your numbers are wrong based on the financial reporting. They do hold physical assets, land, machinery, buildings etc and that alone would value them higher than 12 bucks for starters.
Second, if you’re confident in your theory short the stock and report back in a year how that went. Then you can show youre correct irrefutably. Based on what you’re saying you will be rich.
I don’t give a fuck how much he owns. The point is to hose all the fat fucks and to brand him as toxic. And to familiarize those assholes with urgent dread.
This does not accomplish any of that though
Musk’s purchase of Twitter was backed by Tesla stock. If the stock tanks enough, that bill comes due.
No it doesn’t that not how it works ugh…
We’re in this whole mess because people don’t think through their words and actions. Anyone advocating blindly going after anyone with a Tesla then you’re really no better then Musk.
On that note do I have the answers on how to fix this mess, no, but I know it’s not this.
That is how it works in this case. Musk took loans backed by the value of his TSLA holding as collateral in order to fund his part of the twitter purchase. Value of TSLA drops enough, those loans get called.
https://www.nasdaq.com/articles/elon-musk-faces-margin-call-on-loan-used-to-purchase-twitter
https://www.theverge.com/2022/5/25/23141940/elon-musk-tesla-twitter-margin-loan-buyout-deal
I don’t know if we have enough visibility into how much he’s currently margined to know when he’s at risk of getting called again, but it doesn’t seem realistic to think that he’s not currently margined.
Old articles the deal has been refinanced a few times now. His expose is much lower now. Though yes two years ago this would have been correct.
Thank you for actually taking time to think out a response with relevant sources and not just name calling. This seems to be more rare than it should be. I wish more people were like that.
Spoken like a true Enlightened Centrist.
Based on what? That I don’t want to burn random people’s cars? Yep you got me. Good one dude!