Comment on Norway’s mega wealth fund to reject Elon Musk’s $1 trillion Tesla pay package
mcv@lemmy.zip 5 days agoThat’s just a “the stockmarket can’t possibly be wrong” argument, but the stockmarket has often been wrong.
Tesla is overvalued. That’s blatantly obvious if you look at the data. There’s no justification for Tesla’s insane market cap other than hype or corruption.
Did you not understand the Corolla/Lamborghini example?
I do, but I wonder if you do. Toyota is far, far more valuable than Lamborghini. Toyota is the largest car manufacturer in the world, and with a market cap of $269B, the second most valuable after Tesla.
Lamborghini is not independent, but owned by Volkswagen, as part of their Audi group, and all of those brands put together have a market cap of $58B.
Your argument is not a justification for Tesla’s high market value; quite the opposite.
FreedomAdvocate@lemmy.net.au 2 days ago
You took the wrong message from what I said.
The stock market isn’t “wrong” - it’s the stock market. Tesla is worth what the stock market says it is, quite literally. Hype, corruption……yeah, that’s the stock market.
You can’t just take “hype” out of the stock market because that’s one of the biggest, most essential parts of it.
mcv@lemmy.zip 2 days ago
By that argument nothing is ever overvalued because apparently that’s what the stockmarket says it’s worth. But crashes still happen.
FreedomAdvocate@lemmy.net.au 2 days ago
They’re valued at whatever people will pay for them.
mcv@lemmy.zip 2 days ago
That doesn’t mean that value is reasonable, though. The stockmarket has a rich history of hysteria and irrationality.