Techrights

Tesla Has Become a Ponzi Scheme or a 'Meme Stock'

Posted by Roy Schestowitz on May 06, 2024

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Toyota Motor Europe sold 1,173,419 vehicles in 2023. Globally, Toyota sold around 11.23 million vehicles between January and December 2023. Over the decades we're talking about over 100 million sales.

Compare to Tesla sales worldwide:

↺ Tesla sales worldwide

Now let's examine the stock market. They tell us Tesla is "worth" almost twice as much as a company that sold about 30 times more cars (and can also make EVs):

> Toyota sales surge to new record in 2023

> Tesla sales

> Tesla market cap

> Tesla market cap

You don't need to be an accountant or so-called crank "economist" to see what's going on here... Tesla is 10 billion dollars in debt, i.e. more than its latest profits (which are going down this year). Getting subsidies from the US taxpayers isn't a long-term strategy because as of two hours ago, the US is over 100 trillion dollars in debt. This is not sustainable.

↺ 10 billion dollars in debt

↺ more than its latest profits

↺ as of two hours ago

This is not sustainable

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