Tesla’s stock is up 5.5% to $US173.52 today. The stock is up 414% year-to-date. But many have argued that the stock is overpriced.
In an interview with Bloomberg TV’s Guy Johnson, Tesla CEO Elon Musk said he thinks the current price is “more than we have the right to deserve.”
“The stock price that we have is more than we have any right to deserve. I’m not going to sit here and say we deserve every penny of that. I think it’s more than we have any right to deserve.
“We’re going to do our best to fulfil the expectations of investors and I think in the long-term that stock price is going to seem fair. It’s difficult to predict where it goes in the short or medium-term but I do feel good having the company achieve that value and more in the long term.”
Musk was in London at the opening of Tesla’s first retail store in London when he made the comments. Earlier today it was also reported that Tesla hired Apple vice president Doug Field to lead vehicle programs.
As if adding to that point Bloomberg TV’s Cory Johnson pointed out that today’s stock price doesn’t reflect an important decision that will be made in California today that could cut the maximum zero emission vehicle credits for its Model S by over 40%.
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