Elon Musk: Please Read Our Paper by Brad Cornell, Brad Cornell’s Economics Blog About six months ago, when Tesla was trading north for $250 per share, Aswath Damodaran and I published a paper arguing that a price of $250 per share was next to impossible to rationalize on a fundamental basis. Even making optimistic assumptions, we arrived at a fundamental valuation on the order of $100 per share. Since then, Tesla’s price has melted down to a less stratospheric $200. Still high by our reckoning, but not ridiculous. What is ridiculous is the recent statement by Elon Musk that within 10…
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