Musk’s repeated outbursts against advertisers have dried up the main source of revenue for the loss-making company formerly known as Twitter. A recent decision to sue them for heeding his own advice to not buy ads on the platform hasn’t helped. At some point, he will have to provide a fresh infusion of cash to salvage his $44 billion takeover.
A lot of shareholders have drunk the Elon kool-aid tho, look at the recent shareholder vote about Elon’s ridiculous pay package.
There’s a lot of true believers that treat it like a meme stock and don’t look at the fundamentals.
It’s going to go down eventually, but it might take longer than you’d expect based on the numbers.
100%. Tesla shareholders are an almost entirely irrational market. Turns out buying into a stock that over-priced does not self-select for a healthy ability to assess risks.