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Tesla’s (TSLA) valuation - or what some would call “gross overvaluation” - has always been a sore point between bulls and bears. The Elon Musk-run company’s current market cap is $811.59 billion - which, for context, is over three times that of Toyota Motors (TM), the second-biggest automaker by market cap.
At its peak in 2021, Tesla was valued at more than $1.2 trillion, and even the combined market cap of the world’s biggest automakers couldn't approach that level. Incidentally, never in history has an automaker’s market cap surpassed $1 trillion.