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Tesla CEO Elon Musk Said 7 Years Ago The TSLA Stock Price Seemed A Bit High – CleanTechnica, Cleantechnica.com

Tesla CEO Elon Musk Said 7 Years Ago The TSLA Stock Price Seemed A Bit High – CleanTechnica, Cleantechnica.com

             

May 3rd, by

People freaked out a bit at the end of this week when Tesla CEO Elon Musk tweeted, “Tesla stock price is too high imo.” I should rephrase that: Tesla shareholders freaked out a bit.


Elon saying in an interview on (CNBC) (in August) essentially the same thing. So, I wasn’t all that shocked by his tweet. He doesn’t have a problem acknowledging when he feels like the stock price has gotten a bit ahead of the company. Unfortunately, it seems that CNBC

has retired that video (or, at least, the embed no longer works), but here were his comments:

“I actually think that the value of

Tesla

right now is… I mean, the market’s being very generous, and they’re obviously giving us a lot of credit for future execution, so we’ll do our best to honor the faith the market has placed in us. … But I really feel like the valuation we’ve gotten, that we have right now, is more than, is more than we have any right to deserve, honestly. …

“We need to make sure we really knock the ball out of the park in the coming years. …

“Our stock price is obviously far too high based on historical financials, or even on current financials, so the value is very much based on what the future cash [inaudible] will be like. ”

Another thing people have noted and Elon has seemingly confirmed is that this tweet, as well as ones about selling all physical possessions (including houses), was at least somewhat meant to debunk unfriendly claims that he just wants the US to open back up because he’s a greedy, selfish bastard. Alongside that is the claim that all he cares about is the stock price, since his compensation is very much tied to how high the stock rises. I figured that was part of the reason behind these surprising tweets. Anyone who knows anything about Elon Musk, in my opinion, knows that he cares extremely passionately about the work he’s doing and probably doesn’t swim in gold coins like a certain duck – in fact, may care very little for his net worth. Who knows for sure how much he cares about his ranking among the world’s richest, but Tesla fans know that’s not what’s driving Elon on the shutdown stuff. There are plenty of other theories that make much more sense. As one final note on this part of the story, Elon also does not like being perceived in what he considers an inaccurate (and negative) way.

It surely bothers him that many people think and claim that he’s a greedy billionaire who does what he does in business basically only for the money. The idea is ludicrous to him.

. Wow, it’s hard to even imagine where the company might be in .

As before, the company’s value today versus in several years depends on whether Tesla can “really knock the ball out of the park in the coming years.” Elon’s assessment this week on whether the stock price is tied well enough to Tesla’s current and near-term financials doesn’t really matter.

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