[wils1245]

>>I think the hardcore bears are just plain wrong, here. I don't know whether or not Tesla is over-valued

The misconception I think a lot of Tesla fans have is that great product = great business. How much do you think Tesla's business is worth? A billion dollars? A trillion? Probably not the latter, and if they depended on that valuation to continue to do business (by virtue of access to continued investment), it wouldn't matter how great their cars are.

Their actual market cap is 50 billion dollars, more than Ford, and they will need to raise more money to continue operations. Ford makes 500 times more cars than them (based on some quick Googling, .3% market share of cars vs 15% for Ford). So if you're thinking Tesla is not overvalued, you have to think that Tesla will acquire a truly massive chunk of the car market, at the expense of well funded incumbents who have a head start in many aspects of car manufacturing and branding.

My point is that whether or not Tesla is overvalued is as important as whether or not their cars are great. I think their cars are great, but I'm a Tesla bear because I think expecting them to justify even a tenth of their valuation is unlikely.