While investors wait for future stock sales to close the Twitter transaction, Tesla ( NASDAQ:TSLA ) CEO says that Tesla stock might be valued as much as the combined values of Apple and Saudi Aramco, the two most valuable firms in the world.
Elon Musk made yet another extravagant promise during a Tesla Inc. earnings call, which probably led to Wednesday’s Securities and Exchange Commission opening yet another file.
The CEO of Tesla Inc. told investors on Wednesday that he anticipates the company’s valuation will surpass the sum of the market capitalizations of Apple Inc. and Saudi Arabian Oil Co., are the two most valuable firms in the world.
Musk believe that Tesla ( NASDAQ:TSLA ) can significantly outperform Apple’s current market valuation.
The aggregate market valuation of the two businesses is around $4.4 trillion US dollars as of Wednesday’s closing prices. He did, however, include a disclaimer: “That doesn’t imply it will happen or that it will be simple, in fact, it will be very difficult, take a lot of labor, really innovative new goods, expansion, and always good luck.”
For Musk, making wild predictions is nothing new. Although his argument for why Tesla ( NASDAQ:TSLA ) would surge to that level was completely incorrect, he had previously forecast that it would be worth as much as Apple. Today, Tesla’s market valuation is nearly equal to Apple’s back then.
Tesla Stock for Twitter Acquisition
However, Musk’s current circumstance is unique. Our colleagues at Barron’s recently reported that he is thought to require between $5 billion and $8 billion to complete his plan to acquire Twitter Inc. and that his only viable option for raising that amount of money is to sell Tesla stock.
In order to try to boost Tesla stock before that blackout ended, Musk was prohibited by SEC regulations from selling shares before the company’s earnings release , so what better way to do it than to make some bold forecasts on the earnings ...
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