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80 Teslas damaged at Hamilton dealership, largest car vandalism reported in Canada against the U.S. company | CBC News (www.cbc.ca)

submitted 1 day ago by CowsLookLikeMaps@lemmy.ca to c/Canada@50501.chat

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[–] hildegarde@lemmy.blahaj.zone 1 points 1 day ago

To everyone saying vandalism is bad because of insurance payouts is missing the point. Elon's wealth comes from him owning shares. You drop the share price you eliminate his wealth. The share price is what matters, not the company's income.

Tesla's price per earnings ratio is over 100. If you bought a share of tesla today it would require over 100 years for the portion that share represents to pay for itself.

Comparing it to other car companies, toyota's ppe is 7.52, ford is 6.86, gm is 7.76. Tesla is ridiculously overvalued. Over 10 times more than the biggest car companies. Its valuation is due to hype not its income or financial status.

When vandalization of teslas, or tesla sales locations happens, it does far more damage to the public perception and therefore the share price than the meager insurance payout.

I should make it clear I'm speaking hypothetically. I do not condone vandalism. Be safe.