Shares of Tesla Motors Inc (NASDAQ:TSLA) dropped more than 16% one day after the company announced earnings. Motley Fool analyst David Hanson is a little surprised by the market’s reaction; after all, the carmaker reported some pretty good numbers, including delivering over 5,000 cars.
Then again, David knows that an investment in Tesla is an investment in the company’s future, and that future still looks good. CEO Elon Musk has stated that he thinks his company is currently overvalued, and David admits that some of the company’s multiples are a bit high; but he thinks that the potential of the company to change the way we drive is undeniable, which is why it’s a good play for the long run.
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