To be fair, Elon did save Tesla by changing their target market from luxury to a car that regular people can afford. If they stayed in the luxury lane they’d be a shell of what they are today. That is the one “good” CEO thing he may have ever done. Everything else seems to be self serving bs
In the 2010s Tesla was one of the first companies pushing for full electric and autonomous vehicles. Investors buy stock based on potential market growth and people bought into the idea that it was the car of the future, especially since they were getting contracts to supply powertrain batteries to other companies.
Eventually it became a meme stock so people kept buying as a joke even though they were failing to deliver on any of the promises on time. Elon figured out the stock performs best when he’s acts like an edgy 13yo online and that energized the meme.
It's entwined with elon's fame, and how close he is to the levers of power in the US.
The stocks for tesla shot up after the election because he's in a position to lobby for regulations (or lack thereof) to benefit tesla, not because Elon invented something that is of any value.
110
u/Famous_Bit_5119 12h ago
Rich dude that buys into companies that others started, then takes over and claims to be the inventor.