John Paczkowski

Recent Posts by John Paczkowski

Don’t Bet Against Tesla, Says Musk

Musk_laughingIs Tesla overvalued? With the company’s shares trading up more than 400 percent this year, some have argued that it is. Indeed, New York University finance professor Aswath Damodaran believes Tesla is worth $67.12 per share — far below the $164.89 at which its stock currently trades. If he’s right, that would make Tesla a great stock to short. But Tesla CEO Elon Musk advises against it.

“Our valuation right now [assumes] a lot of good execution on our part in the future,” Musk told Fox News Thursday. “And we’re going to do our best to work hard and make sure that investors are not disappointed. … In the past, I said it’s really crazy to short Tesla. Is it so crazy to short Tesla right now? I mean, it’s not as crazy, but I still think it’s probably not a good idea.”

What else is he supposed to say, right?

A fair point. That said, it’s worth noting that Musk said something similar last September, right before Tesla shares sped off on a massive year-long rally that almost certainly brutalized investors shorting them.

“I think it’s very unwise to be shorting Tesla,” Musk said at the time. “There’s a tsunami of hurt for those holding a short position. It’s going to be very unpleasant.”

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December 30, 2013 at 6:49 am PT

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December 29, 2013 at 2:12 pm PT

BlackBerry Pulls Latest Twitter for BB10 Update

December 29, 2013 at 5:58 am PT

Apple CEO Tim Cook Made $4.25 Million This Year

December 28, 2013 at 12:05 pm PT

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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald