> I don't think the market cap will fall anytime soon for this company.
Really? The stock is down about 20% since the beginning of this month. It already happened.
I want Tesla to succeed. I think the company has done a lot to make electric cars mainstream, at least in people's minds if not in their driveways. But I see no justification for Tesla having a market cap in the same range as GM, which sells 10 million cars per year, or Ford, which sells about 7 million cars per year. Tesla sells about 100k cars per year and is burning through money pretty fast. It might have made a positive contribution to society, but at the end of the day it's a money-losing company and the stock price is going to reflect that.
A little over a year ago Tessa stock had fallen from 280 to 150. +/- 20% is fairly normal for the company. If it falls to say 10 billion that's a major crash, until then it's hard to say how meaningful the week to week changes are.
Really? The stock is down about 20% since the beginning of this month. It already happened.
I want Tesla to succeed. I think the company has done a lot to make electric cars mainstream, at least in people's minds if not in their driveways. But I see no justification for Tesla having a market cap in the same range as GM, which sells 10 million cars per year, or Ford, which sells about 7 million cars per year. Tesla sells about 100k cars per year and is burning through money pretty fast. It might have made a positive contribution to society, but at the end of the day it's a money-losing company and the stock price is going to reflect that.