Tesla is more future proof compared to ford gm or Honda, if tomorrow the world decides to run on battery powered cars then form gm and Honda will have a lot to catch up.
>if tomorrow the world decides to run on battery powered cars
There's no indication that will happen in the next 10 years. Certainly not quickly. Any shift away from gas will be gradual and give automakers plenty of time to react.
$35B is reasonable if Tesla actually has a good chance of becoming as big as Ford, GM, or Honda. Maybe it doesn't, but a lot of people seem to think it does.
You're comparing a company that sold 11k cars last quarter to one who sold 11k F-150s last week and got raked over the coals for it.
Tesla is a boutique manufacturer. Their stock price is entirely based on dreams of future earnings, just as Amazon's price has been unnaturally elevated for 15 years despite never turning a profit worth writing home about.
You're saying what I said. Stock prices are ultimately an attempt to predict the future. If the price is vastly higher than would be indicated by what the company is doing now, that means people think it will get much, much larger. Whether or not this is sane or insane depends entirely on how realistic that expectation is.
Tesla is most certainly valued correctly, with a P/E ratios similar to that of Amazon, and a valuation just slightly above the likes of Snapchat, Twitter, and LinkedIn. Seems to be a reasonable estimation to me.
That's not a dig against Tesla, but it's P/E is way off the charts for a car company.