Yes, but if their profits stayed consistent at current rates the stock price would be quite high compared to other companies. It's price-to-earnings ratio is 408, meaning it would take 408 years for it to buy all its outstanding stock just from earnings. By contrast Ford's is 16 and Alphabet's (Google's) is 29.
The 408 ratio is justified by the assumption that earnings will be a lot higher in coming decades.
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Hasn't Tesla now been consistently posting profits?
Yes, but if their profits stayed consistent at current rates the stock price would be quite high compared to other companies. It's price-to-earnings ratio is 408, meaning it would take 408 years for it to buy all its outstanding stock just from earnings. By contrast Ford's is 16 and Alphabet's (Google's) is 29.
The 408 ratio is justified by the assumption that earnings will be a lot higher in coming decades.