fundamentals. At its peak, Tesla traded at a price to sales ratio of nearly 30. Most automakers trade at a price to EARNINGS ratios in the single digits.

Musk going out of his way to piss off the demographic of people who typically buy Teslas didn't help either. Plus Tesla is no longer the only game in town. The fit and finish of Teslas still sucks, and there now better quality alternatives from the traditional automakers like Porsche, Audi, BMW and Mercedes, along with upstarts like Lucid and Rivian.

As far as the market for EVs.....US EV sales grew by more than 50% in 2023. Q124 was soft, but the projections are for EV sales to grow by another 20% in 2024 and account for 10% of new car sales.

Sort of a tangent, but I saw a cybertruck in person for the first time. Good lord what were they thinking. I think the model S is a beautifully proportioned sedan. The models X, Y, and 3 are a little too bulbous for my taste, but not horrible. But the cyber truck? Man, it looks like someone stole panels from the stealth bomber spare parts bin and bolted them onto their pickup truck. I don't get it at all.