The entire "market", if you can still call it that, could really crash at any moment. I have next to no faith in most of the listed companies to actually produce any real return on investment once adjusted for inflation.
Even without ROI, it's still pretty cute.
I could go on and on about the reasons for this (a dead horse I've been beating for a decade since "the bailout"), but that's less fun and requires more brainpower than looking at a couple of simple charts.
First, let's take a look at how much Tesla "makes" each quarter:
Grim. This is a stock market darling?
Tesla does appear to be doing one thing well - losing money! I guess it's a good thing they get lots of it free from the government (much of which is loaned to other Musk companies at a profit, on the taxpayer's dime.)
That sounds like a lot to me.
If that wasn't enough to scare Tesla holders, surely this chart will be:
Well, maybe they make cars that are 116.94 times better?
Recently, I was at a Porsche dealership. Flush with bitcoin money, I was temporarily able to appear to be someone who might purchase a car, and would therefore be indulged in a test drive or three. The mechanic and salesman working on a 911 there regaled me with tales of how Teslas are "Frankencars", made from various pieces purchased from other automakers. Notably, they seemed offended at the use of a Mercedes steering column and wheel assembly. They assured me that as a sports car, aside from the inherent strengths of an all-electronic engine, Teslas were not exactly finely crafted works of art.
So, if they aren't going to be in the sports car hall of fame, who is the target market? Apparently, it's lovers of tax breaks...and they are a fickle bunch.
This is your overpriced car stock - on the free market.
It's not going to look good when that happens in the USA...
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Sources: Zero Hedge, Google, LA Times, Bloomberg, Wikipedia
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