“You’re looking at the very start of what’s going to happen with Tesla,” billionaire investor Ron Baron said earlier today. “This could be one of the largest companies in the whole world.”
helped send the stock to parabolic heights, similar to the type of trading in late-1990s tech stocks.
The stock closed 13.7% higher Tuesday at $887.06, after touching $968.99 in earlier trading. Baron said TeslaResearch firm Bespoke Investment Group said the stock's big gain is rivaling some of the largest bubbles in stock market history, including the tech dot-com bubble and housing-related shares in the run-up to the financial crisis.
"Tesla's bubble looks a lot bigger than biotech, homebuilders, or the aggregate Tech sector's bubble," wrote Bespoke analysts. "We don't know how high Tesla's shares will get, but with the company valued at a premium to the vast majority of the largest stocks on the planet, it's hard to take it seriously as something other than a combination of speculative excess and positioning.
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