In keeping with his promotional nature, Musk said there was a path by which Tesla could be worth more than the next top five companies by market cap combined. Tesla was the seventh largest company in the S&P 500 at year-end. This result seems very unlikely, in my view.

Tesla was one of the worst-performing stocks in the S&P 500 on Monday, falling more than 5%, after President Trump went through with a plan to impose sweeping tariffs on America’s largest trading partners.