Is Tesla Motors A Case Of Irrational Exuberance?

Since the announcement by of its latest financial results and rise in production, its stock has soared to the point where the market is giving the company a valuation of around $16 billion, about a quarter that of , which has 100 times the vehicle sales.  The argument supporting these prices is that the electric vehicle is the car of the future (near-term future, presumably, or at least before we’re all as dead as John Maynard Keynes) and they have solved the problem of making a marketable version.

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