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Tesla continues to bewitch investors but will it go on to dominate the industry?

The company has become a "story stock" - a firm whose stock price is impervious to any traditional valuation measures because its story is simply too good not to be true.

A dummy is seen in a Tesla car after a crash test in February at in Ruckersville, Virginia. Tesla has won over many sceptics with its near-flawless execution, so far, and the high quality of its vehicles and high levels of consumer satisfaction.

New York

AS Tesla shares surged past US$300 this week and the company's market value surpassed Ford's, even its founder, Elon Musk, acknowledged on Twitter that the company was "absurdly overvalued if based on the past".

By "the past", he presumably means old-fashioned valuation...

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