February 25, 2015

#Tesla: Bonfire of the Money Printers’ Vanities

David Stockman on Tesla's $35 billion peak market cap: 

Net sales for the LTM period ended in September amounted to $2.9 billion, meaning that speculators were putting a Silicon Valley-style multiple of 12x sales on a 100-year-old industrial product, and one sold by a fly-by-night company distinguished from its auto company peers, which trade at 0.5x sales..

See the whole article On Casey Research here: Tesla: Bonfire of the Money Printers’ Vanities | Casey Research

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