Tesla Is Partying Like It's 1999
NEW YORK ( TheStreet) -- Cue up your Prince CD, because Tesla
Tesla is now worth more than half of either General Motors
The discrepancy could easily be answered if Tesla were more profitable, or even expected to be more profitable next year, or the one after that, or maybe even the one after that. Unfortunately, there are no reasonable estimates for Tesla to generate anywhere near the same level of profit as the other two automakers anytime soon.
Even though GM and Ford are profitable and have a much larger market share than Tesla, Morgan Stanley
The public bought into Morgan Stanley's bullish thesis, and shares rocketed higher. The following day, Tesla announced a convertible bond offering through investment banks Goldman Sachs
I can't help but be reminded of the go-go days during the dot-com boom and bust. In 1999, profits and even expectations of future profits often didn't matter. However, believing Tesla is a great company with strong prospects, I reviewed a few of the stocks I traded during the market's exuberance that were as exciting and viable as Tesla.
The highest price paid for Yahoo!
In the final trading days of 1999, Amazon.com
Many companies never made it through to the other side. Pets.com, with its famous sock puppet, comes to mind. It's a fair assessment to say Yahoo! and Amazon were leaders and the best of the best at that time. Both remain important Internet companies, especially Amazon, but their stock prices still can vary wildly.