While Elon Musk is known as the world’s richest man, he’s also arguably dominant in the news cycles as of late. When former and possible future President Donald Trump first came on the political scene in around 2015, he arguably held the trophy for top news name.
Recently, Elon Musk himself gave him the opportunity to come back as such by reinstating Trump’s extremely influential Twitter account. Donald Trump however, is largely vested in Truth Social, which might actually be damaging to his 2024 campaign since he is still not tweeting out of principle.
Nevertheless, Elon Musk has been in the news for his recent purchase of Twitter lately. However, it’s easy to forget amid all the tweets that Musk also owns Tesla, among many other powerful and influential pioneering companies.
Tesla stock has taken a beating lately amid the broader stock market’s weakness under Jarome Powell’s hawkish fed. To add gravy on top, many left wing activists like Microsoft founder Bill Gates have allegedly short sold Tesla stock, while Musk himself had to sell a substantial amount to complete the Twitter acquisition.
This messy situation for Tesla’s stock price may lead some to believe that Tesla is not doing well or is less relevant than it was a year ago. To top it off, Joe Biden, in Musk’s opinion, hasn’t given Tesla enough credit for being “green” amid the Democrat push to slowly (or not so slowly) phase out the internal combustion engine in many cases.
Tesla as a company however, in spite of short term economic headwinds, is still doing well, delivering semi-trucks to Pepsi, selling more cars than ever, and seeing the price to earnings lower than it has been in a while on the stock.
We are not financial advisors and are not recommending any investment here but some think Tesla stock may be substantially undervalued and that the company is chugging along quite well despite the Biden administration’s apparent cold shoulder, possibly due to Musk’s speaking out against radical left wing ideas, including censorship of conservatives as of late in our view.
Recently, Joe Biden’s team took to Twitter, even as they have also said they’re monitoring if Twitter is even safe to use now under Musk, to brag about charging stations.
“We’re building 500,000 electric vehicle charging stations across the country. The great American road trip will be fully electrified.”
We’re building 500,000 electric vehicle charging stations across the country.— President Biden (@POTUS) December 3, 2022
The great American road trip will be fully electrified.
Musk had two witty responses to that, however:
“Or you can just buy a Tesla” and “Worth mentioning that Tesla has open-sourced its charge connector and is enabling other EVs to use Tesla Superchargers”:
Worth mentioning that Tesla has open-sourced its charge connector and is enabling other EVs to use Tesla Superchargers— Elon Musk (@elonmusk) December 4, 2022
Luckily for Musk, he is able to break through the noise and get his message out anyway. Many conservatives are speculating that Twitter poses a threat to the relevance of mainstream media outlets now that the heavy hand of censorship has been lightened up to a degree.
Only time will tell how the new technologies develop over the next few years. In our view though, one thing is for sure, there’ll be no lack of government officials wanting to control and take credit for as much of it as possible for political gain, despite the free market seeming to handle these things quite capably on its own.
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