> A few years ago Tesla was worth as much as the rest of the car industry put together. Even if you believed Tesla was going to become a perfect monopoly, its v

> A few years ago Tesla was worth as much as the rest of the car industry put together. Even if you believed Tesla was going to become a perfect monopoly, its valuation still would not have been justified. The bet is on Tesla doing more than regular cars. How much does the calculus change when people think it will eat the taxi/rideshare market, the solar market, the backup battery market, the charger market, and potentially robotics? Tesla’s valuation is entirely based on investing in that vision. That’s why it’s notable that it’s precipitously collapsing. People are losing faith and it might just become a regular old car company. > We knew the value of the stock to the penny starting in April of last year, but for months it traded at over a 25% discount No you didn’t. You knew the closing price of an offer that the buyer was trying to back out of.