Today’s submission is about investing, so if you have no interest in money or the world around which it revolves, move on to something you find more productive.
For those remaining, we will look at the shares of Tesla, which continued their rapid descent today, dropping $14.05 a share to a close of $109.10. They’re down another buck and change in aftermarket trading.
This one-time darling stock has dropped $700 billion, give or take, in market capitalization this year.
What happened to Tesla? Simply put, the narrative makers have changed their spin.
The argument that Elon Musk is distracted by his Twitter acquisition and so is dropping the ball with Tesla is just so much garbage.
What really has mattered is that Musk, like Donald Trump, has alienated the left-wing media, intelligence and government cabal by throwing their behind-the-scenes manipulations into the spotlight.
Musk has used his purchase of Twitter to expose government dealings and manipulation of the public using Twitter as an all-too-willing tool.
It is ironic that Musk, once a left-wing darling, has incurred the wrath of his former fellow travelers simply by speaking the truth. That, you see, is the one unpardonable sin among the socialists.
Back in the day, Musk was hailed as looking to save the environment by producing electric vehicles. It didn’t matter that he sold a relatively paltry number of vehicles, or only made money through the magic of selling carbon credits and having the government hand out tax credits to manufacturer and consumer alike regarding said vehicles.
The Tesla market capitalization exploded to beyond the combined market worth of all other major automobile manufacturers – still sits there despite the decline – and no one batted an eye.
Tesla was a technology company, not a lowly car manufacturer, they insisted.
There was the battery business.
Plus, Musk branched out into space exploration, tunnel drilling and hyperloops (sort of the like the transportation version of the Metaverse in that no one knows exactly what it is).
Funny, through all this the acolytes never seemed to fear Musk was stretching himself too thin. But now, with Twitter, and his unseemly willingness to share the inner workings of that government propaganda arm, Musk is viewed as distracted.
Musk’s defenders, a shrinking crew, point out that he is a genius and will make it all come out right in the end. But the name on Tesla’s company, Nikola Tesla, was a certifiable genius too, yet wound up nearly penniless at death.
The very same media/governmental publicity machine that once propped up Musk, now seeks to tear him down. Who knows how much dark market government selling of Tesla shares is taking place to grease the skids.
Musk could call off the dogs by recommitting to socialist causes and ceasing to talk about governmental manipulation of social media.
There is a common misperception that movers and shakers in private industry are conservative politically. Quite the contrary, as proved by the likes of Bill Gates, Jeff Bezos, George Soros and many others.
All of these men have made their billions and now seek the greater thrill of controlling the masses. You can only spend so much money. But being the power behind the throne, now that’s a worthwhile aspiration, no matter the cost.
Sticking it to the share price of Tesla stock because Elon Musk dared to defect to the right side is just part of the game.
Sam Ross Jr's site 