Last year Elon Musk declared himself Technoking of
and Imperator of Mars. Under his leadership, Tesla bought and sold
It also started accepting Bitcoin as a form of payment and then stopped doing so. The Tesla CEO has also had more trouble with the SEC because of his tweeting habits.
Tesla stock, however, has risen more than 200% in the past 12 months, making the company the most valuable automaker in the world. Additionally, Musk’s space exploration and technology company SpaceX is now the fifth most valuable aerospace and defense franchise in the world. SpaceX’s value has grown as the company delivers more astronauts to the International Space Station and more of its Starlink satellites to low Earth orbit. SpaceX plans to provide high-speed internet in space across the world.
Tesla and Musk, 50, have their detractors. Over 25% of analysts cover the price of the stock they are selling. The average sales ratio in the
the index is around 7%. Still, analysts’ average price target for Tesla stock is up about 360% from last year. Even the bears seem willing to admit that Tesla is disrupting the auto industry and is worth hundreds of billions of dollars. Musk is the main reason for this.
Write to Al Root at [email protected]