Tesla layoffs and a potentially disastrous earnings call next week have some retail investors ready to jump ship
announced the cuts in a memo to the entire company, writing that they “will enable us to be lean, innovative, and hungry for the next growth phase cycle.”
“Musk needs to go immediately,” wrote a user in the “investment” channel of the Discord for the subreddit r/TeslaMotors. “Clearly these executives are making a statement.” A second member speculated that the two probably “got sick of being part of the endless shilling of things that are years away.” Others bemoaned the clunky rollout of Tesla’s latest offering.
This investor has shorted Tesla periodically over the past three years for a modest profit, he says. “I’ve had a bearish outlook on Tesla since at least 2020 as I believe their valuation as a tech company is backwards and nonsensical,” he explains. “The problem with these meme stocks is that all it takes is a big group of diehards to float the stock. That’s where we’re at now.
The investors of Reddit’s r/wallstreetbets, for example, laughed off the very notion that Musk would have a functional robotaxi in a few months. Onethat the event will be similar to when “they unveiled the robot Optimus but actually it was a guy a costume breakdancing,” alluding to a ridiculedin which the concept for a humanoid Tesla robot was nothing more than a person wearing a helmet and bodysuit.
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