Tesla rides high on investors’ extreme leap of faith in tech future
If Elon Musk’s company does to cars what Amazon did to shopping, then the trillion-dollar valuation may be justified
Three years ago, Elon Musk announced that he was thinking of making a buyout offer for Tesla, the electric-car maker he founded, runs and partly owns. At the time, the South Africa-born entrepreneur’s company was under siege from short sellers who argued that it was wildly overvalued, and they were driving him to distraction.
The price Musk suggested for the take-private deal was $420 a share, about a third more than the level at which ...
