The stock price rose by one Ford in one day, and the one-week increase exceeded the combined market value of the Detroit Big Three...
Everyone has heard the "Tesla myth" that is cocooned, and it is being replaced time and time again. Rewrite it yourself.
As of press time, Tesla’s stock price has once again created history, rising 3.34% to US$2,068.68, with a market value of 382.2 billion.
Tesla’s current market value is equivalent to 2 Toyotas, 8 Ferraris, 14 Fords, and 23 NIOs.
Looking back to the beginning of last year, this popular US stock company was still involved in huge controversy. It was not favored by the market due to many years of unprofitability and low production capacity, and its stock price even fell to the bottom.
At the lowest price, the price was only US$176.99, less than one-tenth of the current price.
In 2019, Tesla’s Shanghai Gigafactory opened, and on December 30, the first batch of 15 domestic Model 3s were delivered to employee owners.
Since the domestic delivery, Tesla has embarked on a comeback, even leaving many short-selling institutions disappointed.
Since the beginning of 2020, Tesla’s stock price has risen by more than 378%.
So, is Tesla’s sustained rise in the Chinese market a derivative bubble of “technology worship” or a major witness of the “automotive revolution”?
1. Tesla’s “virtual reality”
In fact, whether in terms of output or sales, Tesla is only a fraction of traditional car companies. Even a few tenths.
However, in the capital market, Tesla has achieved double or even three or four times the market value of traditional car companies.
Faced with such an astonishing increase in Tesla’s stock price, the market’s attitude inevitably split.
When Tesla’s market value had just exceeded US$200 billion, Ron Barron, founder of Barron’s Capital, lamented that Tesla’s stock price “still has a way to go to be 10 times higher” in the future, and Become a trillion dollar company within 10 years.
There are also "predictions" from Wall Street brokerages that under the most optimistic scenario, Tesla's stock price can rise to US$3,000.
But more people are skeptical and negative.
Buffett, who was surpassed by Musk early on the rich list, made it clear in May that Musk "has done some great things" but he will not invest in Tesla stock.
Recently, he once again said, "If a company develops a COVID-19 vaccine, it may rise 100%, but stocks with such gains as Tesla are a bubble."
Bloomberg It was also commented that the current market valuation of Tesla is based on the assumption that the company can monopolize the new energy vehicle market. As electric vehicles continue to develop, the "big technology bubble" blown by Tesla will one day burst. .
Cui Dongshu, secretary-general of the Passenger Car Association, said that the core reason for Tesla’s stock price rise is that everyone believes that the transformation of new energy vehicles is a major trend, and Tesla can always exceed expectations in this regard, so it I think Tesla has great development potential.
Obviously, Tesla’s bubble risk definitely exists. Firstly, the valuation is too high, and secondly, the stock price has risen too much.
Kung Fu Motors believes that Tesla’s soaring stock price is more a sign of global capital’s bets and experiments on future travel prospects.
2. Tesla’s arrogance may become a “fatal point”?
Besides the soaring stock price, the controversy surrounding Tesla has never stopped.
Recently, Tesla has once again been accused of being "arrogant" due to its dispute with Pinduoduo.
This kind of "arrogant" attitude has frequently appeared when facing Chinese consumers before.
Earlier, Tesla was questioned due to issues such as price and quality.
At the beginning of May this year, Tesla reduced the price of its domestic Model 3 by 10,000 yuan. 14 days later, it once again "disguised" the price of its domestic Model 3 by 20,000 yuan.
Multiple price cuts in a short period of time have attracted "class lawsuits" from car owners.
According to the Shanghai Court Litigation Service Network, Tesla will face more than ten sales contract lawsuits as a defendant from May to July this year.
Tesla owners also mocked themselves as "leeks" because of this, and many users who were interested in Tesla began to retreat after hearing the news. As they said, "What if the price drops again next month?" ".
Under frequent price adjustments, some Tesla owners feel “disrespected.” In April this year, Tesla’s sales also experienced a decline. On Zhihu, someone else once said Asked "Is Musk the American version of Jia Yueting?"
Consumers who have encountered the "reduced distribution system" in China may have greater opinions on Musk.
At the beginning of this year, some domestic Model 3 owners claimed that without knowing it, the HW3.0 version of the autonomous driving hardware that the domestic Model 3 they purchased was supposed to be equipped with was "reduced" and replaced with The HW2.5 version has a performance difference of 21 times.
Tesla’s response to the “reduction door” is: The reason for the inconsistency in hardware installation is due to the impact of the supply chain during the epidemic.
And said, "With the recovery of production capacity and supply chain, we will continue to provide free replacement services for HW3.0 for owners of the China-made standard range upgraded Model 3 with controller hardware of HW2.5 as planned. , users who need replacement are asked to make an appointment through the Tesla service center." Musk responded on Twitter: "Those who complained did not actually choose the FSD function. If the FSD function is optional, Tesla will upgrade it to the HW3.0 chip for free.”
Musk’s remarks triggered a strong emotional backlash from car owners.
Some people say that the essence is that the hardware assembled on the vehicle is inconsistent with the environmental protection list, rather than whether the assembled hardware affects the use of the vehicle.
Musk’s psychology is undoubtedly strong. He is dismissive of critics. He once said at a press conference: “Those who have questioned me, I think they may be right. But these voices make me want to succeed even more."
This gesture is popular among fans, but "success" does not mean that you can be arrogant to consumers.
Obviously, Tesla’s “arrogant” attitude is a major “stumbling block” to its future development.
3. Written at the end
In fact, for Tesla, winning the stock price in the short term does not mean much.
What is more critical is whether Tesla can change its past "arrogant" attitude towards consumers and maintain its current profitable performance.
After all, once the performance collapses, the stock price may disappear like a mirror in a mirror.
This article comes from the author of Autohome Chejiahao and does not represent the views and positions of Autohome.