Tesla, Inc. (TSLA:NASDAQ), as I noted in a comment a few days ago, then had market capitalisation (stock price times number of shares outstanding) more than three times that of Ford Motor Company (F:NYSE), despite Ford’s revenues being more than seven times those of Tesla and Ford’s FY 2018 earnings of US$ 3.7 billion being somewhat greater than Tesla’s loss of US$ 69 million for FY 2019.
What a difference a few days make! There now appears to be a cataclysmic short squeeze and/or buying panic in Tesla stock. Here is a ten minute chart for the last few days.
Tesla, which seemed absurdly overpriced around US$ 600/share, surged above US$ 900 in early trading today.
Here, courtesy of ZeroHedge, is Tesla’s recent blow-off superimposed on the 2017 Bitcoin bubble and crash.
For those with a longer historical perspective, here is Tesla stock superimposed on the South Sea Company bubble in the 18th century.