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Musk Trolls Shorts as Tesla's Value Hits Record, Passes Ford (bloomberg.com)
Tesla's Elon Musk poked fun at short sellers as his electric-car maker's stock surged to a record, vaulting its market value past century-old rival Ford. From a report on Bloomberg: "Stormy weather in Shortville..." the chief executive officer tweeted Monday, as Tesla shares climbed as much as 5.8 percent. The maker of Model S sedans and Model X crossovers saw its capitalization surge to about $48.2 billion, $3.1 billion more than Ford, the No. 2 automaker in the U.S. after General Motors Co. Tesla has long been a popular target by short sellers such as Jim Chanos, who famously bet early on energy company Enron's failure -- and was proved right. Short interest in Tesla has risen to 29 percent of its free float from a 52-week low of 20 percent in mid-October, according to Markit data. Tesla's move past Ford came one day after Musk's company reported worldwide shipments of 25,000 cars and SUVs in the first quarter, exceeding analysts' estimates. While Ford delivered about nine times as many vehicles in just the U.S. last month, its sales missed projections and the shares fell.
I'm sorry but as much as I respect Elon Musk and Tesla that is absolutely absurd. Tesla having a market cap bigger than Ford makes no rational sense even with the most optimistic possible growth expectations for Tesla. The company has never made a sustained profit, it's revenues are a fraction of Ford, and it has no reasonable prospect of the sort of exceptional margins or market control that could possibly justify such a valuation. Yes some of their products are awesome but that doesn't justify a dotcom era valuation. There might be a short squeeze but the shorts are right. Telsla is hugely over valued.
Did you just take your old post about how Google was overvalued and strike out the word "Google" and "Brin & Page" to substitute "Tesla" and "Musk"??
Tesla produced ~80,000 cars last year, Ford produced 6.7-million. From a purely numbers perspective its pretty much inconceivable that Tesla will approach Ford for decades, obviously Ford also has a correspondingly larger number of assets and there is considerably more risk in Tesla's future than Fords.
What? Their P/E ratio was -53 for 2016. And it's -103 so far this year. They DEEEEEEEEEEP, in the fucking hole.
Your hair look like poop, Bob! - Wanker.
I saw a model X at my local coffee shop the other day, The owner had parked with both rear doors open, obviously attention whoring.
Before I cast final judgement on the practicality of the wing doors I think I would have to live with them to experience the plusses and minusses. I could certainly see how a low garage like mine could block them, for example. I couldn;t see much advantage, especially as its the rear doors not front ones, so unless you have kids they won;t really get used much,
To me, the styling of the car itself looked disjointed and awkward, especially as the front doors open conventionally. I think it clearly falls somewhere between ugly and bland, but lots of people were looking at it, so I'm almost certainly in the minority. In person its very reminiscent of an enlarged Nissan Leaf, or maybe one of those cars for disabled people in wheelchairs. It definately didn't look like it should cost anything like the $85k+ base price. The interior was also very soulless and surprisingly cheap-looking. Looking at the shut lines and other details, it was clear that the build quality was no better than the average 30k Hyundai or whatever. I think most people looking at it who didn't already know what it was, would almost cetainly guess it was a $30-35k car.