Virgin Galactic Holdings (New York Stock Exchange: SPCE) Chairman and SPAC King Chamath Palihapitiya said on Thursday that TEsra (NASDAQ: TSLA) The value of the stock may double or triple from now on.
what happened: The billionaire investor rejected the suggestion on CNBC’s Halftime show, saying he did not understand “why people are so focused on selling useful things.”
Palihapitiya described Tesla CEO Elon Musk as “a guy who has always been one of the most important entrepreneurs in the world.”
He urged investors to catch up with Musk CEO Jeff Bezos (Jeff Bezos) Amazon (NASDAQ: AMZN) and SoFi CEO Anthony Noto.
See also: SoFi merges with IPOE SPAC backed by Palihapitiya
“You are behind these possessions [an] Strong character, they know what they are doing, they will not succumb to short-term profits, they will only drive the train for 1
former Facebook company (Nasdaq: FB) executives pointed to Benchmark venture capitalist Bill Gurley, who said very well: “When the music starts to dance.”
“So these guys are dancing, they have a rhythm, they are flowing, let them do their own thing. If they fall behind, they won’t sell stocks, just let them create value,” Palihapitiya suggested.
Why it matters: Palihapitiya repeated his argument that Tesla is a disruptive company whose main value lies in “reducing energy,” not just an automaker.
The investment guru made a “considerable” investment in Tesla in 2016 and said that Tesla will become a trillion-dollar company. Apple (NASDAQ: AAPL).
Price action: Tesla closed up nearly 7.9% on Thursday to $816.04, and rose 1.65% to $829.50 in after-hours trading. Virgin Galactic’s shares rose 3.97% to $25.13, and rose 0.68% in after-hours trading that day.
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