Tesla’s Valuation Doesn’t Add Up Today, Never Mind $4.4 Trillion Tomorrow
- Date: 20-Oct-2022
- Source: The Wall Street Journal
- Sector:Oil & Gas
- Country:Saudi Arabia
Tesla’s Valuation Doesn’t Add Up Today, Never Mind $4.4 Trillion Tomorrow
The climate bill recently passed by the Senate could knock thousands of dollars off the sticker price of electric vehicles, but it’s also redefining which cars are eligible. WSJ’s George Downs breaks down the new rules and what it means for the EV industry. Illustration: George DownsTesla had a good third quarter, but this is a stock for which nothing other than spectacular is good enough. Case in point: Chief Executive Elon Musk’s new stretch valuation target is “Apple and Saudi Aramco combined”—about $4.4 trillion.
After the bell Wednesday, the electric-vehicle pioneer reported $3.7 billion of operating profit on $21.5 billion of revenue. While both were new records, both also came in shy of consensus estimates that had already been cut following a disappointing quarterly sales report earlier in the month. Shares fell in after-hours trading.
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