It was manic year for financial markets and nothing exemplified the the fear, greed and absurdity of the stock market better than Telsa Inc. The automaker's shares went on a tear in 2020, resulting in Telsa becoming not just the highest valued car company in the world by far (even without selling a lot of cars), but also the one of the biggest companies in the world outright. And Elon Musk became the second richest person on earth.
At the same time, the chart below highlights the divide between Tesla's sky high valuations (PE of 1,398) and its fundamentals:
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