Elon Musk: Tesla may be overvalued today, but I think it’ll be worth more in 5 years

Tesla stock skyrockets day after stock split announced

Tesla’s inventory has already risen over 400% this 12 months, but CEO Elon Musk mentioned he thinks the corporate “will be worth more in 5 years” in an interview with Kara Swisher for a New York Times podcast.

“Some critical mass of the market has concluded that Tesla will win, I guess,” mentioned Musk on the inventory’s will increase. “I’ve gone on record already saying the stock prices have been high, and that was well before the current level. But also if you ask me, do I think if Tesla will be worth more than this in 5 years? I think the answer is yes.”

In May, Musk tweeted that Tesla’s inventory value was “too high,” which despatched it down 12% that day. However, since he made these remarks, shares are up nearly 200%.

In the wide-ranging interview, Musk additionally mentioned, “Tesla at this point is not in mortal danger, as it was, say, three years ago.” He added, “The thing that Tesla has been able to achieve is get to volume manufacturing and have sustainable positive free cash flow. From a car company standpoint, that is the real achievement of Tesla.”

“Tesla should be measured by how many years we accelerate the advent of sustainable energy,” mentioned Musk. 

At last week’s “Battery Day,” Musk confirmed Tesla is producing its personal battery cells at its Fremont facility and predicted the corporate would be in a position to make a $25,000 self-driving automotive inside three years.

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