Poor Lonnie. May he cry himself to sleep on his MyPillow tonight.
I honestly don’t know how Musks companies work.
Tesla makes cars. Cars don’t sell, so profit drops. Musk uses SpaceX to buy Teslas. Tesla’s profit declines, Musk says it’s an AI company, then buys AI from his other AI company, which he funded from Tesla stock. Musk buys Twitter, twitter goes down in value. Musk buys Twitter from himself using xAI, for higher than its market value, then boasts stock gains?
So now Tesla is going to buy AI from himself, and build robots that were just pantomimed guys in suits… and somehow… profit???
I don’t know what the fuck is going on in this world.
hector@lemmy.today 1 hour ago
And let me guess, stonk went up still?
It’s not about the companies, it’s a gamble stock, divorced from the performance of the company.
Pringles@sopuli.xyz 50 minutes ago
I just checked and of course the stock went up.
ExcessShiv@lemmy.dbzer0.com 47 minutes ago
Yes, because while they had lower profits than previously, they still had higher profits than expected. This market behavior is in no way unique or limited to Tesla or “meme stocks”. If a company increases profits, but less than expected, their stock usually drop despite increased profit. It’s because value is tied to actual results vs. expected results on the short term.