Another day, another enigma.
Tesla, a company that hasn't made profits cumulatively over the last 10 years, makes a mere 300,000 cars, is bigger than Toyota, Volkswagen, BMW, General Motors, Ford, Fiat Chrysler and Honda combined!
The automakers listed above make more than 30 million cars annually. 100x more than Tesla.
It also dwarf the recent inclusions into the famed S&P500 by a mile!
Well, maybe bcos it did finally generate USD1bn of FCF after burning USD10bn since its inception. Remember the market only looks forward, not backwards.
Or, we can attribute it to the Power of QE Infinity.
To Infinity and Beyond!