Tesla's stock has enjoyed towering gains this year, going from $430 a share at the start of 2020 to nearly $1,600 at the close of trading Wednesday. It's the biggest automaker by market value. Even its CEO, Elon Musk, has called the company's stock overvalued.
If Tesla joins the S&P 500, as expected, many investment funds will be obligated to buy it, which means it will become part of many people's retirement savings."We believe the progress we made in the first half of this year has positioned us for a successful second half of 2020," the company said earlier this month.
"Production output of our existing facilities continues to improve to meet demand, and we are adding more capacity. Later this year, we will be building three factories on three continents simultaneously," it said.
Now if Elon can just stop wanking off to putting gated communities on Mars, and get to making the cars affordable for the rest of us.
By 2030, Tesla will be worth $10,000 a share, or ten hamburgers.
Best fraud in America.
musk is from africa seems to do ok eternal life Jesus go big 80 yrs 200 mph vs eternity speed of thought Jesus seems ok
In this economy? Suuuuuure.
Of course, it's not REALLY a green car: electricity still requires burning fuel to create.
Lol when the tesla bubble pops say bye to those retirement accounts
Thats a low bar.
I’m betting there is some major book cooking for that lol
Yeesh.... So, when they finally lose their valuation as a tech company and get a more reasonable P/E ratio (like those for auto companies), we're all screwed. This is bad news.
And all they had to do was give China cheaper cars than they offer to Americans! $143 to secure a vehicle was given in the face of the closest thing the modern world has seen to a Gulag in 60 years. But hey, Tesla's making money, who cares if it's tyrant's money, right?
Can not wait to hear Marketplace take on that
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