Matt Levine, Columnist

It’s Good If People Want Tesla Stock

Also Goldman’s treasurer, Credit Suisse’s ex-CEO, PG&E and COKE.

February 13, 2020 at 5:20 PM UTC

Corrected

February 13, 2020 at 8:34 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

Provide news feedback or report an error

Site feedback:

Take our Survey

If you run a company, and it uses a lot of cash, and a lot of people are really excited about your company’s business and prospects, and they want to buy stock in your company, and their buying frenzy causes the price of your stock to triple in the course of a few months to the point that your company is worth $140 billion despite a lengthy and unbroken string of annual net losses, then:

You know? I type a lot of obvious things in this column, but it rarely gets more obvious than that. If you have a company that needs money, and people are dying to give you money at enormous valuations, what you do is take their money, and be happy about it.