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- cross-posted to:
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KEY POINTS
New European car registrations of Tesla vehicles totaled 8,837 in July, down 40% year-on-year, according to the European Automobile Manufacturers Association, or ACEA.
BYD recorded 13,503 new registrations in July, up 225% annually.
Elon Musk’s automaker faces a number of challenges in Europe, including intense ongoing competition and reputational damage to the brand.
The stock is actually up 10% this month. The stock market is a shell game on full display at this point.
I’ve come to the conclusion that the stock market is just a representation of wealth inequality and oligarch theft than it is of the economy or any companies value.
TSLA is not the stock market. It’s a cult. The valuation of that company follows no rules of Commerce.
The stock market is a cult. Company valuations have detached from any sense of use-value reality - most of the stock markets’values is derived from how much money a stock might make and not what value a company provides to society. Valuations don’t even mirror how much revenue potential companies have, but make it up based on future revenue potential, which can be easily manipulated to simply create wealth. It’s been this way for a long time, but the extent of the situation has lost nearly any attachment to reality.