I am sure it will be fabulous for you! Biden admin's push for more electric car mandates and more subsidies can only warm your net worth. You had a pretty good 2020 as well while the rest of the world was under lockdown.
— Marc Morano (@ClimateDepot) January 9, 2021
Elon Musk is now the richest person in the world, passing Jeff Bezoshttps://t.co/QSY6v4PZ80
— Marc Morano (@ClimateDepot) January 9, 2021
https://jalopnik.com/tesla-would-take-nearly-1-600-years-to-make-the-amount-1846044574
By Mercedes Streeter
Tesla is an oddity in the business landscape. The company’s stock is so stratospheric that Elon Musk has surpassed Jeff Bezos as the world’s richest person. Now, we have another mind-blowing metric. At Tesla’s current price-to-earnings ratio, it would take the company almost 1,600 years to make what the stock market says it’s worth.
Why is the stock market value of this Tesla getting so outrageously high?
One factor suggested by the New Statesman suggested pandemic lockdowns mixed with trading apps. Trading apps like Robinhood make it easy for anyone to throw money at a stock. During the pandemic, these apps saw their user base escalate. And one of the stocks these users are investing in? Tesla. The company’s stock splits, and the way these apps already allow trading on the fractional level, also encourage people to spend money on the company. The pandemic fuels Tesla’s rise.
Musk’s tweets can also result in big changes in Tesla’s stock price. In a single tweet he erased $14 billion dollars in Tesla’s market value.
