In light of recent developments in TSLA it could be interesting to make a comparison with biggest market caps attained for companies that have never turned in an annual profit?
Tesla has had 2 positive quarters so far. Earnings are backwards looking.... market cap is forward looking.
I am not trying to argue against TSLA. I am simply trying to establish if there has been any company throughout history that has attained a market cap the size of TSLA without turning in an annual profit.
Like in many areas of life and certainly with stocks e.g. IPOs with vapor earnings it is the sizzle not the steak that sells.
Prior To the IPO Goldman Sachs does the dog and pony road show for the company with vapor earnings, You buy into the sizzle. Three quarters later the co. is blaming the weather for wider losses. Now after buying the stock on the 1st day spike you are 60% down as people wake up to reality.
OK %% For many years; AMZN, but they have had real good customer service, no $40,000,000 SEC fine. And AMZN never blamed its problems on short sellers....................................................................
Although much lower market cap than TSLA: https://www.macrotrends.net/stocks/charts/AMZN/amazon/market-cap https://qz.com/1196256/it-took-amaz...ofit-as-it-did-in-the-fourth-quarter-of-2017/
%% OK; TSLA is also still very cheap if you like overpriced tulip mania...................................................... I noted many months ago, if the market figures TSLA fires mr Musk, it could be OK.