Tesla, Inc. is now seen as more than a car company, given its foray into energy, AI, and robotics.
What Happened
CEO Elon Musk reiterated over the weekend that the company’s long-term potential is high. His comments came in response to a valuation framework for Tesla’s shares discussed by Tesla influence and YouTuber Steven Mark Ryan, who goes by the Twitter handle @stevenmarkryan. He suggested that Tesla’s valuation looks ridiculously low, even when evaluating Tesla solely based on electric vehicles, full-self driving, and bots.Mark Ryan noted that such potential is possible by having an inordinate positive impact on the world. FSD is a game-changer and Tesla Bot will be transformative, he said.
Tesla hasn’t realized even 0.1 percent of its future potential, the Tesla fan said. “My Tesla stock price targets out to 2032 include the impact from BOT and growing EV fleet which is probably why they seem so RIDICULOUS at first glance but you should see what 2042 and 2069 look like,” Mark Ryan said. “You ain’t seen nothing yet,” he added.
Why It’s Important
Tesla stock have been under selling pressure since it hit an intraday high of $1,243.49 on Nov. 4, 2021. Much of the weakness seen in the year-to-date period is due to worries over the production disruptions in China that are expected to impact output.Cathie Wood’s Ark Invest issued its revised price target for Tesla in April, expecting the stock to hit $4,600 by 2026. “Tesla’s prospective robotaxi business line is a key driver, contributing 60 percent of expected value and more than half of expected EBITDA in 2026,” Ark Invest said.
Tesla stock closed Friday’s session 7.33 percent higher at $759.63, according to Benzinga Pro data.
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