/biz/ - Business & Finance

Meme stocks preform the best, can anyone refute this?

All time high, valued more than Exxon now. Only rumors of high volume of sales through "leaked" memos. Is this about to dump?

My coworker bought this meme stock at 350 last week because of Elon Musk's epic tweets and because electric cars are so cool. How long until they implode and I get to tell him I told you so?

>Market cap higher than Ford and GM, both of which are profitable with much higher revenue
>Tesla hasn't had a profitable year since they were founded
>GM's Chevy Bolt alone almost outsold Tesla's entire lineup combined
>Tesla's shitty self-driving technology is years behind Google, BMW and GM, who is scheduled to release a fully-autonomous car next year
>Nobody is going to loan Tesla the money to buy the stock back when they are already drowning in debt

Not sure if you can handle a topic that's not related to crypto, but earlier this evening Tesla had their 1st quarter conference call and it was weird as hell.

I don't know if Musk was high, or if the walls are starting to close in on him, but he was hanging up on analysts, rambling, and pretty out of it.

The market reacted in after hours with shares of tesla dropping 5%, and it looks like it could go down more tomorrow.

Musk is rumored to be highly leveraged, with a shit load of debt using his stock as collateral. If the price goes down too quickly, he will be liquidated and bounced from the company.

You can hear the call here:

https://youtu.be/h-dyiASgGkk