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Tesla’s in its flop era (www.theverge.com)

submitted 7 months ago by Stopthatgirl7@lemmy.world to c/technology@lemmy.world

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When Tesla releases its first quarter earnings this afternoon, the company’s CEO Elon Musk will field the usual questions about new products, new factories, and progress toward its futuristic vision of self-driving cars and robot workers. But Musk will also face increasingly urgent questions about its current state of affairs — and why everything seems to be going to shit.

Earlier this month, the company reported its first year-over-year sales drop in four years, a sign of rougher waters ahead. Tesla’s stock has fallen more than 40 percent since the start of the year, including a 13 percent drop in the last week. The company laid off over 14,000 employees last week, 10 percent of its global workforce — which could end up being closer to 20 percent when all’s said and done, according to Bloomberg. Today’s earnings report is expected to include Tesla’s lowest profit margins in six years, a sign that rampant price-cutting continues to exact a toll.

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[–] GoodEye8@lemm.ee 12 points 7 months ago

Depends on what you mean by "recover". It might recover in the sense that the entire company won't go bankrupt and will find a sustainable way to continue existing, but it will never recover to the current stock worth. Tesla has been grossly overvalued as whatever huge potential it had has been squandered. The stock will drop regardless of what Tesla does and it's highly unlikely it will ever reach such worth ever again.