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Tesla is the worst-performing stock in the S&P 500 this year

Worse than Etsy. Worse than Boeing. Simply the worst

All those recalls, a CEO whose drug use is allegedly so bad his rich friends on the board reportedly want him to head to rehab, increased competition at home and abroad. In Tesla’s annual report, the company explicitly lays out that it is “highly dependent on the services of Elon Musk, Technoking of Tesla and our Chief Executive Officer.” That’s a plus when “he really has made a lot of shareholders a lot of money, and they really would be happy to give him the gold statue and whatever other dumb things he might want in exchange for even a fraction of his entrepreneurial attention,” as Bloomberg’s Matt Levine put it. Our free, fast, and fun briefing on the global economy, delivered every weekday morning.

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