Tesla plummeted by 220 billion
In the new year, Tesla's stock price is unstable.
On Wednesday, January 3, Eastern time, U.S. stocks closed lower, with the Nasdaq trading lower for the fourth consecutive session and the S&P falling for the third consecutive day.
At the close, the S&P 500 fell 0.8% to 4,704.81, the Nasdaq fell 1.18% to 14,592.21 and the Dow Jones Industrial Average fell 0.76% to 37,430.19.
Tesla fell 4.01%, and its market value evaporated by $31.7 billion, or about 227 billion yuan.
According to Tesla's 2023 global production and delivery report, Tesla delivered 484,500 vehicles worldwide in the fourth quarter, higher than the market estimate of 48.31 vehicles, a year-on-year increase of about 20%, and produced about 495,000 vehicles, a year-on-year increase of 12.58%.
Tesla produced about 1.85 million electric vehicles and delivered about 1.81 million electric vehicles worldwide, a year-on-year increase of about 35% and 38%, respectively.
Combined with its share price, it is clear that Tesla's delivery data did not meet investors' expectations.
In addition, what shakes investors' confidence in Tesla is that Tesla's sales were overtaken by BYD.
BYD data shows that its pure electric vehicle sales in the fourth quarter of 2023 will be 526,400 units, and the annual pure electric vehicle sales will be 1,574,800 units.
On the social platform X, a user compared the two companies.
1. BYD sells low-priced BEVs in China, but not yet in Europe and North America, and is unlikely to sell them at the same price, so Tesla is more likely to sell more BEVs in North America and Europe, especially after the delivery of the $25,000 model.
2. Tesla has the ability to activate FSD on every car delivered overnight and has huge margin leverage that no other automaker can match – so Tesla will lead the way in terms of margins and profits as the most profitable company.
3. Tesla currently has huge cost competitiveness, but once FSD and Optimus Prime robots go on sale, Tesla will be free to set more attractive car prices while still achieving industry-leading profit margins and selling more technologically better cars at lower prices.
4. Getting other automakers to fully switch to pure electric vehicles is an important part of Tesla's mission, so BYD is part of Tesla's mission, so it is very popular. ”
In this regard, Musk also said, "Tesla is an AI/robotics company, although in many people's eyes it is a car company. ”
It is worth mentioning that on January 2, Craig Irwin, an analyst at Roth Capital, warned again that Tesla's share price was at risk of being seriously overvalued.
Craig Owen gives a Tesla price target of $85. At the current share price, Tesla could fall by more than 60% in the future.
"There's nothing about Tesla that Toyota doesn't have. If it's only going to sell a fraction of the cars, why is it trading at a price so many times higher than Toyota? I'm bearish because I think it's grossly overvalued."
Some people are bearish and some people are bullish, and Ron Baron, chairman and founder of Baron Funds, said that Tesla's market value could reach $4 trillion.
"Tesla Future is more than just a car company, and it's not just a battery company. Tesla's systems and computing power, like Intel's chips in all computers, will also become built-in systems in other cars. All cars will use Tesla self-driving and no one else can compete. Baron said.
In the future, it will take time to prove whether Tesla's stock price will be cut in half or doubled.
Author | Zhang Xiaolei