I wonder if the stock market likes it because it's a "purer" speculation than some other automakers. Tesla tracks one clear proposition: the future of personal

I wonder if the stock market likes it because it's a "purer" speculation than some other automakers. Tesla tracks one clear proposition: the future of personal transport is electric. If you buy the premise, it's one of the most precise bets you can make on it. In contrast, GM or Hyundai or Volkswagen are inherently hedged. If petrol drops to twelve cents per litre, they'll pivot back to V8 boats and Tesla goes bust. But that means they'll pay out less if the future is electric-- they wasted resources and time that could have been in retrospect better spent going whole hog on electric vehicles. I wouldn't be surprised if this is part of the reason firms like Nikola can still get market traction with way more vaporous fundamentals: they're also positioned as a pure bet on that proposition. (Disclaimer: long TSLA)