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Why one economist says Elon Musk has turned Tesla into a meme stock [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
Musk really wants Tesla to be a tech company, but it's an automaker, DeLong said. Tesla's market success relies on CEO Elon Musk's ability to keep promising, irrelevant of what the company actually delivers, UC Berkeley economist J. Bradford DeLong thinks. "From the standpoint of its suppliers, employees, and customers, it is a source of income and production," he said. "And from the standpoint of Wall Street speculators, it is a bouncing ball in a roulette wheel: a tech-bubble casino play." In an op-ed for Project Syndicate , DeLong noted that Musk used to cheerlead technologies Tesla could deliver on, such as battery developments or electric vehicle breakthroughs. But since Musk unlocked the entire worth of his pay package agreed with Tesla in 2018 — which vested when the firm reached a certain market capitalization threshold — he has instead started touting ideas that the company has yet to make good on, DeLong said. That includes full self-driving, humanoid robots, and an
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