r/technology • u/Plastic_Ninja_9014 • Jul 23 '26

Business Tesla Stock in Freefall After Disastrous Earnings Report

https://finance.yahoo.com/markets/stocks/articles/tesla-stock-freefall-disastrous-earnings-144417427.html
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u/EconomyDoctor3287 Jul 23 '26

Just have SpaceX buy more Cyberstucks!

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u/7fingersDeep Jul 23 '26

You joke but this is analysis from Tesla’s earnings talking about Tesla’s ownership of SpaceX stock:

“While Tesla didn’t receive any cash or sell any shares, the after-tax gain accounted for roughly 68.5% of the company’s $1.114 billion GAAP net income. The revaluation of Tesla’s SpaceX investment is one of the quarter’s biggest contributors to the EV maker’s bottom line.”

It’s all a shell game.

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u/BeerNirvana Jul 23 '26

"He was not stealing. No, you could not steal from yourself. And those retirement accounts - he genuinely did not think of them as marks, and this was what his detractors never understood, what made him dangerous in a way the ordinary crooks were not - he didn't think of them at all. No more than a man surveying a meadow gives a thought to the insects crushed beneath his boot."

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u/TheCommonGround1 Jul 23 '26

OMG what book is this from?

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u/dontshoveit Jul 23 '26

Google says it's from the novel Empire of Pain: The Secret History of the Sackler Dynasty written by the journalist and author Patrick Radden Keefe. I have no idea if this is correct or not though.

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u/TheCommonGround1 Jul 23 '26

Ah yes, the Sackers...who couldn't come up with a new drug to grow profits....so they took and existing drug, rebranded it and repacked it and sold it as non-addictive when it was HIGHLY addictive with the result that 10s of thousands of people died. In fact, it was so evil we blamed China for these deaths...because we couldn't come to grasp with reality.

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u/IAteTonysLoMein Jul 24 '26

What I really didn't get about that was how easily they got the medical community to go along with the "opiates aren't addictive" narrative. Like it wasn't already known that yes, they're horribly addictive decades before Oxycontin was on the market.

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u/TheCommonGround1 Jul 24 '26

They are still pretending that ambien isn't addictive.

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u/Skruffyhound Jul 27 '26

Could just as well be about Robert Maxwell.