According to Marx a stocks value stems from 2 sources:
The actual assets it represents: Buildings, machines, patents, inventory ... [in this case Tesla has some, but nothing really remarkable].
The future return of interest that can be expected. I.e. two companies have assets of equal value and both issue 10000 stocks, but company A makes 10% profit on avaredge and company B just 5% than company As stock is more valuable than company Bs stock. [Tesla made a pont that the combustion engine was on the way out and made a somewhat convincing point that only they were really reacting to that and may have somewhat of a monopoly or at the very least a serious headstart when it comes to electric engines/batteries.]
This is the rational part behind Teslas stock price rising, expected future profits are priced in. Of course it is completly blown out of proportion. In parts because markets have seen a tsunami of fresh money since 2008, but actually good investment opportunities are fairly rare compared to the amount of money. It is also a self reinforcing cycle of a rising stock attracting buyers making the stock rise further..., but will in the end correct itself (and may end up with Tesla blowing up or being baught up after a price collapse by Toyota or VW or BMW.
According to Marx a stocks value stems from 2 sources:
This is the rational part behind Teslas stock price rising, expected future profits are priced in. Of course it is completly blown out of proportion. In parts because markets have seen a tsunami of fresh money since 2008, but actually good investment opportunities are fairly rare compared to the amount of money. It is also a self reinforcing cycle of a rising stock attracting buyers making the stock rise further..., but will in the end correct itself (and may end up with Tesla blowing up or being baught up after a price collapse by Toyota or VW or BMW.
I think their charging infrastructure is important as well, since they may be able to turn that into local monopolies.