this post was submitted on 06 Nov 2026

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179

Tesla and SpaceX lose over $420B in combined market cap in the two days (www.cnbc.com)

submitted 4 days ago by rssbot@lemmy.bestiver.se to c/hackernews@lemmy.bestiver.se

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[–] Hyperion@midwest.social 7 points 3 days ago (1 children)

Tesla has always been more hype that substance. Use Toyota as an example. Toyota has significantly higher income, profits, assets, equity, cars sold etc (it's not even close) but even right now Tesla has a market cap that is over 5 times higher.

[–] Malica@lemmy.zip 5 points 3 days ago (1 children)

Vibe market in action. Investors were banking on musk raiding the treasury.

[–] Hyperion@midwest.social 3 points 3 days ago

Even before that was a possibility, Tesla was worth way more than the fundamentals suggested it should be.