Tesla's stock price and market valuation are 'insane,' says AutoNation CEO Mike Jackson

has a "great brand" and "he's got good products," Jackson said. "But he has a business model that is still very dependent on the government."

Jackson mentioned the government paying for "sales incentives" as well as the company relying on the sale of regulatory carbon-emissions credits to other automakers for revenue. A Tesla Model S is displayed during the London Motor and Tech Show at ExCel on May 16, 2019 in London, England.Tesla sold $428 million worth of regulatory credits to other automakers in the second quarter. But the company no longer benefits from government sales incentives. Teslaon tax credits of up to $7,500 for consumers who purchase an all-electric vehicle last year.

Jackson said that if Musk were able to conduct Tesla's business without such programs, he would give the company more recognition: "If he's making money and doing all this without government support, I'd tip my hat. That would be impressive, but it's not there yet and it's got a ways to go." Tesla's shares closed Wednesday at $1,592.33 with a market cap of $295.2 billion. The skyrocketing stock was up about 4% in Thursday's premarket. The company became the most valued automaker in the world, toppingadjusted earnings per share for the second quarter of $2.18 versus an expected 3 cents, according to estimates compiled by Refinitiv. Tesla's revenue of $6.04 billion also bested expectations of $5.37 billion for the time period.

When will they realize fossil fule is dead. We are moving in a carbon-free world.

Haha someone sounds jealous.

NO WAY TESLA STOCK GOING DOWN TO $300! MUST BE COMING FROM A BILLIONAIRE DOOM MONGER SHORTING THE TESLA STOCK ! (UNLESS THEY DO A 5 to 1 SPLIT)...

Regulatory Credit Bull Market in order to gain inclusion into the S&P Index backed by money printing: sums it up for ya.

NO WAY ! MUST BE COMING FROM A BILLIONAIRE DOOM MONGER SHORTING THE TESLA STOCK !

Who this again? Go away .

I would rather listen to Elon Musk than this gentleman.

They are insane, but if there is a breakthrough in battery technology, internal combustion engines will be dead within 10 years. High risk, higher reward…

Insane to make it easy and cheaper for funds to buy before it join S&P500 , why now ?

Tesla can’t boil the ocean! Forget self driving cars; need infrastructure with it; otherwise, cars driving off the road! Tesla isn’t FAANG, isn’t a stock; it’s a huge “world changer”! ...from Vinyl to 8-track to cassette to CD to Digital Recording !

Stop with your gas vehicles. Innovate and you could have high valuations. Stop complaining.

Anyone with a brain knows this.

Tesla is not a stock. It’s like when 8-Track tapes took over Vinyl records, then cassette tapes took over 8-Track tapes, then CD’s took over cassette tapes, then ... I am sure you get it now !

half a million Robin Hoodsters would disagree ....

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