First, though I am not a Tesla or Musk "hater", their P/E is currently 1,324 and they are thought to maybe have their very first calendar year of showing a profit in 2021. The current price of their stock is beyond speculative. So far people have made fantastic profits from investing in this company, but I don't think that makes it any less insane.
Then, they add Bitcoin in the mix, which is a non-regulated cybersecurity made of used electricity. We are living in crazy times.
Tesla has never made a dime selling cars...
I would counter that this is the guy who managed to get rockets to land by themselves. (I know HE didn’t design the system, but he enabled the vision to be realized.)
I don’t like how he tweets markets into a frenzy. But now that his company owns bitcoin, he won’t be able to do that. Not sure what he messes with next.
The guy is a kook, but he gets stuff done.
If I can’t hold it in my hand, I don’t want it.................
What’s so hard to believe? Tesla will soon make every new car sold in the world for the next two decades and every other carmaker will disappear. Yeah. It could happen! LOL.
The law of gravity
I may buy a Tesla, but my first choice is a DeLorean. I just can’t fine their dealership.
Agreed on the market cap being crazy high. Do consider that most first world countries are moving toward mandating EVs, and Tesla is way ahead in both actual viable vehicles and factories to build them affordable at scale. P/E may make more sense with that taken into account (can’t criticize P/E when major startup is just breaking even, it’s about where they’ll be when stable).
I sure would hate to be one of those people who bought
Bitcoin at around 20,000 back in 2017. A lot of them rode it down to 6000 or so hoping it would come back, but finally sold so they could have “something”. Many mortgaged their homes, maxed out credit cards to buy it back then. What a feeling it must be for them to see it hovering around 50 grand now. Brutal !
Seriously after O'Biden had the FAA cancel his next Rocket Test Flight, what a greater way to send a message, your Admin will send us to Inflation or StagFlation so up yours, I'll go to another currency....
Brilliant IMHO....
That’s over half a $Billion for those in Rio Linda.
What will you be saying when it's $100,000? Almost certain, since it is nearly $50 BEFORE Biden and Pelosi push through $1.9 trillion in new deficit spending.