Elon Musk Says $20 Trillion Valuation Possible For Tesla Even As Second Quarter Earnings Show Sales, Revenue Decline: 'Extreme Execution Is Needed'

Tesla Inc. TSLA CEO Elon Musk thinks a $20 trillion valuation for the EV giant is possible amid dwindling sales across multiple markets.

Check out the current price of TSLA stock here.

What Happened: Quoting a post on social media platform X on Friday, which shared investor Keith Fitz-Gerald's $20 trillion valuation prediction for the EV giant.

"Extreme execution is needed, but a valuation of $20 trillion for Tesla is possible," Musk said in his post.

Why It Matters: While Musk doubles down on Tesla optimism, experts like Wedbush Securities' analyst Dan Ives maintain bullish views on the company, with Ives also maintaining a $500 price target for Tesla.

Despite this, many have slammed the company for a disappointing earnings call for the second quarter, with revenue down 12% to $22.5 billion and sales dwindling in multiple markets, including the U.S. and Europe.

Future Fund LLC's Gary Black called the earnings call a disaster and criticized Tesla for the upcoming affordable vehicle in the lineup being a scaled-down version of the Model Y.

Tesla offers Satisfactory Momentum and Quality, while scoring well on the Growth metric, but offering poor Value. For more such insights, sign up for Benzinga Edge Stock Rankings today!

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