Todd Gordon (Todd Gordon), founder of TradingAnalysis.com, a market analysis firm, believes that the stock market has chosen the winner in the competition for the mass production of electric cars.
He said, TeslaThe high valuation, which was trading at 137 times forward earnings as of Tuesday's close, is a good indication of where investors are betting as traditional carmakers scramble to develop their own electric vehicle projects.
Gordon said that traditional carmakers will certainly take some market share from Tesla in the short term, "but if you look at the billions of miles Tesla has access to the main data center, it's not funny compared to other electric cars." Whoever has the most data will win in the end. So, of course, they can get some short-term market share, but I think in the long run. I think the market is already voting on who will win. "
Mr. Gordon also said he bought shares in Tesla when its share price recently fell.
I increased my position by 1/3 when the share price was about $580 on June 3rd. I am still Tesla Niu Pie. This is a long-term game and I may stick to it for many years. "
Tesla shares closed down more than 1 per cent at $680.76 on Tuesday.