this post was submitted on 02 Jun 2025
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Tesla sales in Québec plunged 85% in the first quarter, mirroring sharp declines seen in Europe.

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Musk's DOGE work sparked backlash, boycotts, and dealership vandalism across the US and Europe.

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[–] Kage520@lemmy.world 13 points 3 days ago (1 children)

Stock market as a whole is...okay I guess. These one-off, bulletproof companies are silly. It's almost a religion and the people who hold the stock truly believe that Tesla is going to make automatic cars that will drive everyone while also making autonomous robots that will do everyone's laundry and the current problems are nothing compared to the beliefs in the future. The value will hold until it doesn't (eg, they finally need the money for today's bills in a recession that cost them their jobs), and then the value will plummet to something that actually looks normal for the sales they are making at this time.

Until they need their money, they have the unshakable belief they will all be millionaires as soon as Tesla comes out with the world changing techs and has no competition. Should be any day now. Or maybe in 2 weeks.

[–] Revan343@lemmy.ca 12 points 3 days ago (1 children)

The fact that it's in the S&P500 also gives the stock some staying power that it otherwise wouldn't have, because a lot of people indirectly hold shares of it in a way that they can't easily dike out of their portfolio

[–] boonhet@lemm.ee 2 points 2 days ago

If it were to ever exit the S&P 500, it would for sure fall pretty hard. Unfortunately, for that to happen, it would need to fall even harder first.