By Kris Sayce – Port Phillip Insider (Australia) –
If you’ve paid close attention to Port Phillip Insider recently, you’ll know that we’ve had a one-way battle with American electric car company Tesla Inc. [NASDAQ:TSLA] and the company’s top dog, Elon Musk.
We say ‘one-way’ because Musk wouldn’t have a clue who we are, and, even if he did, he wouldn’t waste his time acknowledging our existence. And quite rightly too.
But, even so, we’re determined to continue our crusade against what we believe is one of the biggest individual stock bubbles of recent time.
We have no doubt that Tesla is a nice little niche company. It builds attractive, sleek cars. It has developed a growing and recognisable brand name. It has attracted, and is attracting, keen investors. Its market capitalisation now exceeds both General Motors Company [NYSE:GM] and Ford Motor Company [NYSE:F].
Of the big global car companies, it’s now the seventh biggest in the world. Its next target is Honda Motor Company Ltd [TYO:7267].
However, all that belies a simple fact. It doesn’t make any money. And what’s even more worrying is a familiar refrain from investors about Tesla’s business. It all sounds so…1999. Take this from Bloomberg: