Comment on Tesla profits nosedive as more job cuts announced

danc4498@lemmy.world ⁨6⁩ ⁨months⁩ ago

• casmael@lemm.ee ⁨6⁩ ⁨months⁩ ago

  Dead cat bounce?

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  • athairmor@lemmy.world ⁨6⁩ ⁨months⁩ ago

    When a stock drops by a lot there’s usually a low point at which some investors will start buying it again because it got so cheap. This drives the price higher but only temporarily. This is called the “dead cat bounce.”

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  • Granite@kbin.social ⁨6⁩ ⁨months⁩ ago

    There’s a pandemic term I haven’t seen in the wild for a hot minute.

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    • Crashumbc@lemmy.world ⁨6⁩ ⁨months⁩ ago

      “Dead cat bounce” has been a term in stocks for 30+years…

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      • Granite@kbin.social ⁨6⁩ ⁨months⁩ ago

        TIL thanks

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• Jakdracula@lemmy.world ⁨6⁩ ⁨months⁩ ago

  I was going to to ask the same thing. Up over two dollars in premarket trading.

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  • danc4498@lemmy.world ⁨6⁩ ⁨months⁩ ago

    My only guess is that there were rumors of layoffs, and the stock market LOVES when the middle class gets fired.

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• NotMyOldRedditName@lemmy.world ⁨6⁩ ⁨months⁩ ago

  It was because they announced they were speeding up their plans for their affordable next gen vehicle earlier than already announced, which was H2 2025

  Now it’s late 2024/H1 2025

  They are ditching their next gen “unboxed” production method to do this however and leaving that for the robo taxi. The vehicles will be a hybrid if their next gen tech and existing tech. They claim the new models to be released will be built on the existing manufacturing lines, getting them to over 3mil vehicles a year.

  These will be more akin to a gen 2.5.

  Robo taxi will be gen 3

  If their unboxed plans work with the taxi, they’ll use it for other vehicles in the future.

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  • danc4498@lemmy.world ⁨6⁩ ⁨months⁩ ago

    Thanks for the details! All I saw anywhere was the bad news, but this does sound like a good reason for optimism if you can trust this company.

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    • NotMyOldRedditName@lemmy.world ⁨6⁩ ⁨months⁩ ago

      if you can trust this company.

      That’s the key point. After all the other delays, they need to show they can do something on time now to gain some of that back.

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      • danc4498@lemmy.world ⁨6⁩ ⁨months⁩ ago

        It feels like this announcement was 100% to keep the shareholders happy with probably very little planning ahead of time.

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