Quote:
Originally Posted by chad86tsi
Yes, totally overvalued. are they really worth 10 times GM? I don't think so. There is also this :
Elon Musk disclosed another $3.6 billion in stock sales on Wednesday, taking his total near $40 billion this year
All used cars are falling finally, and for a while Tesla was immune to that. Not any more. I looked at the cars.com listing a few days ago and there were a lot of them that have been on the lots for months and have had 15% price reductions, and are still for sale. On top of that, the new ones are stacking up at tesla stores. I looked earlier this week at my local "Existing Inventory" and it was up ~1000% over recent historical normal levels. Even the top selling models/versions are stacking up. I looked again today and now inventory is up 1200%, in less than a week.
This will get much worse for them before it gets better.
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Stock was ~$150 when I wrote this ^ 9 days ago, now down to ~$125. Down ~19% in just the last week and .~69% year to date.
Google stock price check:
124.89 USD
-28.87 (-18.76%)past 5 days
-274.89 (-68.74%)year to date
I went to their website to check stock because I read they are now offering $
7500 off 3's and Y's, plus
10K supercharge miles. Confirmed they are.
Looked at the S inventory, still extremely bloated. I went at the main webpage to build my own S so I could deduce the discounts now offered on those compared to normal prices, "build your own" now links directly to the existing inventory. The site won't even let you build your own anymore, only option is to buy one on the lot
I know they have an end of year push they always do, but this year they must also have an inventory problem. There are currently 50 S's within 200 miles of me, normal inventory level is 2-4. Prices appear highly discounted, but since I can't look at the normal prices anymore, I can't be sure how much.