The idea that Tesla should have a “tech” multiple, which generally means 80% margins and high growth rates, is kinda scary, since they don’t have either. 80-95%

The idea that Tesla should have a “tech” multiple, which generally means 80% margins and high growth rates, is kinda scary, since they don’t have either. 80-95% drop would be reasonable if and when it loses its “story”. But it can use its valuation to bring in capital to try and make the business into something else.