Fred Hickey on Tesla's parabolic rise and $165 billion market cap

Tesla's insane stock price explosion is all about three things: money, momentum and mania.  It has absolutely nothing to do with fundamentals.  Even before this week's multi-hundred point upward explosion, Tesla's stock last week was "valued" by "investors" (speculators) at more than the stock values of the entire U.S. domestic auto industry (GM, Ford and Fiat-Chrysler) combined...

TSLA's stock is currently valued at $165 billion.  For comparison purposes, Ford Motor is valued at $36 billion, General Motors at $49 billion, and Fiat-Chrysler at $26 billion.  Germany's Volkswagen (which delivered almost 11 million cars in 2019 versus Tesla's 370,000) is at $92 billion - a valuation 44% less than the great money-losing Tesla.

~ Fred Hickey, The High-Tech Strategist, February 4, 2020