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Tesla: Founder Elon Musk says it doesn't 'deserve' market value

Trending story found on money.cnn.com
Tesla: Founder Elon Musk says it doesn't 'deserve' market value
Elon Musk thinks the value of his electric carmaker, Tesla, has gotten out of control. "I do believe this market cap is higher than we have any right to deserve," Musk was quoted as saying in an interview published in The Guardian on Thursday. Tesla's (TSLA) stock has soared by more than 40% this year based on investor optimism about prospects for the company's first mass market car, the Model 3. That's pushed Tesla's market capitalization above $50 billion, meaning the money-losing company is worth more than Ford (F) and General Motors (GM). Tesla made about 84,000 cars last year,...
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