Tesla has been a stock market phenomenon for quite some time now, and one of its biggest believers is billionaire investor Ron Baron. In a recent interview, Baron doubled down on his prediction that Tesla stock could reach $1,500 per share by 2030. Baron’s bold prediction comes at a time when the electric vehicle market is booming and Tesla continues to make strides in terms of technology, production and sales. In this article, we will explore what Baron said about Tesla stock and take a look at the factors driving its meteoric rise in recent years.

What is Tesla stock currently trading at?

Tesla stock is currently trading at $835.00 per share. The electric vehicle maker’s shares have been on a tear this year, gaining over 70% since the start of 2020.

Baron, who has been investing in Tesla for over a decade, believes the stock could reach $1,000 per share within the next two years. That would give Tesla a market value of around $650 billion.

To reach that price target, Baron thinks Tesla will need to continue executing on its plans to ramp up production of its electric vehicles and batteries, as well as expanding its business into new areas such as autonomous driving and insurance.

If Tesla can successfully execute on all of these fronts, Baron believes the stock could reach his $1,000 price target within two years.

Baron’s reasoning for his prediction

Baron’s reasoning for his prediction is based on several factors. Firstly, he believes that Tesla is well-positioned to capitalize on the growing global demand for electric vehicles. Secondly, he believes that Tesla’s production capacity is significantly undervalued by the market. Finally, Baron believes that Tesla has a strong competitive advantage in the autonomous driving space.

How does Tesla’s current market value compare to other car companies?

As of October 2020, Tesla’s market value is $387 billion. This is more than twice the value of the next most valuable car company, Toyota, which is valued at $184 billion. Tesla’s market value is also greater than the combined market values of the next four most valuable car companies: Volkswagen ($79 billion), BMW ($76 billion), Daimler ($71 billion), and Honda ($54 billion).

This impressive market value reflects investor confidence in Tesla’s ability to continue its rapid growth. While other car companies are struggling to adapt to the shift to electric vehicles, Tesla has established itself as the leader in this space. With its innovative technology and strong brand recognition, Tesla is well-positioned to dominate the electric vehicle market in the years to come.

Investors are also bullish on Tesla’s prospects for expansion beyond just cars. The company has already shown success with its solar roof tiles and home battery packs, and it plans to enter into the trucking and autonomous driving businesses in the near future. With so much potential for growth, it’s no wonder that Tesla’s stock price has soared in recent years.