Tesla’s Inflection Point
This is a watershed moment for electric vehicles.
Welcome to Buy/Sell/Hold, Marker’s weekly newsletter that’s 100% business intelligence and 0% investment advice. Each week, our writers Steve LeVine and Rob Walker will make sense of the most important developments in business and why they matter.
We know you’re busy, so think of our Buy/Sell/Hold labels as shorthand metaphor: a Buy if we view it as a positive trend or clever move; a Sell if it’s a disastrous mistake or a missed opportunity; or a Hold if it’s noteworthy but too early to call.
Tesla’s Inflection Point
The Buy/Sell/Hold Analysis
After a new bull run, Tesla’s market cap has now raced past Toyota, the biggest seller of cars on the planet, and ExxonMobil, the symbol of the Oil Age. Skeptics will say Wall Street is not the real economy, especially with a conviction stock like Tesla. That’s true; the stock market has been even more than usual stuck in its own universe, detached from economic reality. (For proof, look no further than the recent success of Nikola, a Tesla copycat dubiously claiming to be on the verge of producing electric trucks, now worth $23 billion after an IPO last month.) But there is also rock-hard substance to the argument that the electric age is here. Over the next…
